Solana breaks $154 with strong uptrend; $500M deal signals long-term confidence
Solana shows strong short-term growth with a cautious technical outlook.
A $500M investment by Sol Strategies sets a bullish precedent for SOL.
Analysts warn of potential retracement amid near-overbought indicators.
Solana (SOL) is trading at $154.25, registering a 4.18% increase over the last 24 hours. Yet, in spite of the upswing, the volume in the last day decreased by 1.64% to $4.16 billion. For the last seven days, SOL rose by 13.85%, indicating a bullish trend. Yet, experts ring the warning bells as the major indicators are closing in on overbought levels.
Based on crypto market analysis, the stock moves higher, trending in a rounded bottom and possibly in the formation of a cup-and-handle, a traditionally bullish chart pattern. The Relative Strength Index (RSI) at 64.49 is leaning bullish but hovers at overbought levels. A breakout at $155 with heavy volume could set off further action to resistance points at $165 and $180.
Despite that, prospective retracement zones are in the picture. A retrace to the $135$140 area might present re-entry opportunities, and $125 and $100 present firmer support levels in case the sentiment turns.
Sol strategies raises $500M to grow Solana staking
In a historic development, Sol Strategies Inc announced a $500 million funding agreement with US-based investment firm ATW Partners, the single largest such structured investment ever targeting Solana staking. Announced on the 23rd of April, the deal takes the form of a convertible note facility, with interest repaid in the innovative manner of SOL tokens.
This funding will be utilized strictly to purchase and stake Solana via validator nodes run by Sol Strategies. The firm will distribute staking rewards to ATW in what is viewed as a groundbreaking financial agreement in the world of crypto.
Sol Strategies CEO Leah Wald highlighted its significance: Every dollar we invest begins to earn yield instantly. The partnership was presented as a growth strategy and a vote of confidence in Solanas prospects. The format not only speeds up validator operations but also brings a scalable investment model based on staking economics.
Solana price outlook for 2025
While short-term price action and institutional interest yield a positive sentiment, broader expectations for Solana in 2025 are more muted. Changelly estimates an average trade price of approximately $159.08, with potentials reaching as high as $144.49, a relatively modest expectation over recent gains.
For April of 2025, the projected margin of trade lies between $148 and $154.56, in close proximity to Solanas present position. With a possible ROI of 3.9%, it indicates guarded optimism, weighing the technical momentum against the possibility of corrections.
Read more: https://www.tronweekly.com/solana-breaks-154-with-strong-uptrend-500m/
Text source: TronWeekly
