SOL News, Technical Analysis Levels

By: cryptosheadlines|2025/05/08 17:00:03

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Backpack Exchange has begun staking its SOL reserves, reducing circulating supply.Robinhood is reportedly exploring Solana as a blockchain layer for EU stock trading.Indicators show bullish momentum, with $153 as key resistance and targets up to $173 if broken.Solana (SOL) pushed towards $150 today, gaining over 3% in the past 24 hours and reclaiming its 20-day EMA, fueled by positive ecosystem developments and continued market interest. News surrounding Backpack Exchange’s SOL staking initiative and potential adoption by Robinhood in Europe adds fundamental weight to the ongoing technical recovery. Backpack Exchange Begins Staking SOL ReservesAdding to Solana’s news flow today, Backpack Exchange made a notable move: the platform, led by Armani Ferrante, announced it has started staking its SOL reserves.We’re beginning the process of staking @BackpackExchange SOL reserves. To start, we aim to provide the full staking yield to all lenders–with the goal of eventually providing the yield to all depositors. For now, I expect most platforms monitoring our wallets to...— Armani Ferrante (@armaniferrante) May 8, 2025According to Ferrante’s posts on X (formerly Twitter), the exchange aims to pass the full staking yields generated onto lenders, with plans to eventually extend this to all depositors.While this shift enhances utility within Backpack and promotes long-term value, Ferrante pointed out it also temporarily skews Total Value Locked (TVL) figures on some tracking sites not configured for this type of staking.Ferrante assured users that wallet addresses remain consistent, although additional wallets may soon be added to manage inflows.This staking strategy may tighten circulating supply, potentially boosting SOL price in the near term, especially if other platforms follow suit.Robinhood Explores Solana for European ExpansionFurther boosting sentiment around Solana, Bloomberg reported that the retail trading giant Robinhood is considering the blockchain for new trading infrastructure in Europe.Related: Doodles’ $DOOD Token Launches May 9 on Solana, Gets Binance Futures ListingRobinhood is reportedly exploring ways to let European users trade U.S. securities directly on-chain. Solana’s network, known for high speeds and low fees, was mentioned as a strong candidate.SOL Technical Analysis: Momentum Builds as Price Tests ResistanceTurning to the charts, SOL’s price action shows building bullish momentum on the 4-hour view. On the 4-hour chart, SOL bounced from a local support near $141.48 (Fib 0.786 level) and is now testing resistance around $151.97.The RSI (Relative Strength Index) is at 60.37, indicating bullish momentum but not yet overbought—implying room for further gains.Meanwhile, the MACD (Moving Average Convergence Divergence) has just flipped positive, with the MACD line crossing above the signal line, suggesting that bulls are attempting a takeover.Additionally, the Fibonacci Levels indicate strong resistance at $153.62 (0.236 Fib). If bulls break this level, the next key targets lie at $157.71 (Fib 0), $165.26 (1.618 Fib), $173.50 (2.618 Fib). A sustained rally could even eye $182+ (3.618–4.236 Fib).Related: Solana Leads Web3 Developer Rankings With 165 GitHub Events in 30 DaysOn the other hand, if price fails to break above $153 and retraces, immediate support lies at $147.74 (Fib 0.382) and $141.48 (Fib 0.786). A fall below this level may expose deeper downside toward $136.40 (1.618 extension).Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.Source link

-- Price

Interlace has launched two innovative products, Agent Card and Scan to Pay, bridging traditional finance and the crypto world, and comprehensively accelerating the integration of AI Agent consumption and stablecoin payments into everyday business scenarios with a more secure and efficient enterprise...

Morning Report | Musk's xAI launches Skills; Duan Yongping to first build position in Circle in Q1 2026; Polymarket partners with Nasdaq to launch prediction market

Overview of Important Market Events on May 19

WEEX P2P now supports COP—Merchant Recruitment Now Open

To make crypto deposits easier, WEEX has officially launched its P2P trading platform and continues to expand fiat support. We're excited to announce that the Colombian Peso (COP) is now available on WEEX P2P!

Dialogue with Lead Bank Founder Jackie: American Banks Re-embrace Crypto

Excellent crypto companies are not those that are "best at circumventing regulations," but those that are "best at evolving in collaboration with regulations."

Vitalik: What we need to do is not to fight against AI, but to create a sanctuary

What is truly scarce is not computing power, but people who are willing to think proactively and retain sovereignty.

Morning News | VanEck and Grayscale submitted BNB ETF amendments on the same day; BlackRock discusses investing billions of dollars in SpaceX's IPO; Michael Saylor releases Bitcoin Tracker information again

Overview of Important Market Events on May 17

Crypto ETF Weekly | Last week, the net outflow of Bitcoin spot ETFs in the United States was $995 million; the net outflow of Ethereum spot ETFs in the United States was $255 million

Avenir Group solidifies its position as the largest Bitcoin ETF institutional holder in Asia, ranking first in the region for eight consecutive seasons.

This Week's News Preview | The Federal Reserve Releases the Last FOMC Minutes of the "Powell Era"

Highlights of the week from May 18 to May 24.

Blockchain Capital Partner: Most people's understanding of on-chain economy is narrow

In the author's view, the most astonishing things in the blockchain space have yet to be created. Flash loans give us a glimpse, but this is just the tip of the iceberg.

The ambition of "one account trading global assets": How does CoinUp.io break down asset barriers to become an industry dark horse?

Create a diversified financial ecosystem through collaboration between CEX and public chains.

The tokenized market will reach a trillion-dollar scale, but there are still four major obstacles

WEEX Crypto Pizza Day: Join Us in Dubai for a Slice of Crypto History

Harvard and other institutions are liquidating their assets, and six core talents have left in a month. What is happening with Ethereum?

Vitalik's long-term vision is clear, but the realization of that vision requires stable coordination capabilities and continuous experience accumulation, both of which seem to be rapidly diminishing.