Highlights:
- Solana has been trading at the $154.93 resistance for 4 hours
- Rallying through this resistance, Solana hit $200
- A confluence of bullish factors across the market could push SOL through resistance
As the global appetite for risk returns increases, Solana (SOL) is trading up today by 4.94% to $154.94. Investors have more confidence after decisive geopolitical and trade developments, such as President Trump’s remarks regarding a significant trade deal with the UK. Additionally, subtle shifts signaling endorsement of trade progress between the US and China raise sentiment on risk assets like cryptocurrencies.
Advertisement
Robinhood Explores Tokenization with Solana and Arbitrum
Another notable aspect fueling Solana’s momentum is Robinhood’s tokenized US securities plans for European users. The firm is partnering with a crypto-native fintech company and exploring Solana and Arbitrum as infrastructure for the tokenization layer.
🚨NEWS: @RobinhoodApp is building a blockchain platform to let European investors trade US securities, in potential partnership with @Solana and other blockchains. pic.twitter.com/bcEXotEEZY
— SolanaFloor (@SolanaFloor) May 7, 2025
The program will enable EU-based investors to trade US stocks with tokens via a blockchain system, providing 24/7 access and greater liquidity. Vlad Tenev, Robinhood’s CEO, highlighted the potential of tokenized assets for international users, claiming the US market could further extend its dominance.
Robinhood’s initiative is undertaken during strong earnings, and its latest results surpassed Wall Street projections. Moreover, the firm was recently granted a brokerage license in Lithuania, which was pivotal to its expansion across the European Union under the favorable guidelines set by Mica (Markets in Crypto-Assets Regulation). These developments offer the necessary financial, legal, and resource structures to foster innovation.
Along with Robinhood, other firms are also investigating the Solana ecosystem. There has been increased institutional interest after BlackRock launched its BUIDL fund on the Solana blockchain. This notable advancement in integrating traditional finance with decentralized infrastructure propels Solana’s credibility as a blockchain capable of sustaining real-world financial processes.
BlackRock USD Institutional Digital Liquidity Fund $BUIDL, with a total asset value of over $1.7 billion, is now available on @solana
tokenization by @Securitize
interoperability by @Wormhole pic.twitter.com/2RrCcbCMIr— Wormhole (@wormhole) March 25, 2025
The Growth of Solana Stablecoins Enhances On-Chain Activity
In particular, Solana’s on-chain activity continues to grow because of its stablecoins. The network’s stablecoin market cap has skyrocketed to an astonishing $13 billion, soaring from $5.7 billion in January and less than $2 billion throughout 2023. Of that total, USD Coin (USDC) makes up 77%, accentuating its integral role in powering DeFi and trading activities within the Solana ecosystem.
Stablecoins on Solana recently surged past $13B in issuance, setting a new ATH@calilyliu on why Solana is purpose-built for moving digital dollars at internet speed pic.twitter.com/WYPPg0LEG6
— Solana (@solana) May 5, 2025
Bullish Chart Patterns Indicate Solana Breakout
Solana’s price action captures traders’ attention for more than one reason. As observable on the 8-hour chart, SOL has formed several bullish patterns, including a bullish flag, falling wedge, and inverse head-and-shoulders. Each of these patterns has bullish price action associated with it.
$SOL
Breaking crucial Resistance of Descending Broadening Wedge in 1DTF.
Successful breakout can lead 70-80% bullish wave in coming days ✍#Solana pic.twitter.com/BDF0yuPMyE— Globe Of Crypto (@GlobeOfcrypto1) May 8, 2025
To $157 with a peak, Solana returned to $146 and pulled back, forming a Declining Channel, which suggests a bullish flag. Additionally, the falling wedge pattern confirms a Solana breakout. Chart watchers believe that the head-and-shoulders inverse pattern has its neckline at $157, which will take the token to $180 and possibly $200 once broken.
SOL ETF Hype, Growth of Meme Coins, and High Staking Yields
Solana is also benefiting from developments within its ecosystem. A possible Solana ETF, an increase in meme coin transactions, and the high returns from staking are pulling more users and investors to the network. These factors help bolster the bullish sentiment and long-term adoption prospects.
‼️ Breaking
Bloomberg now predicts 90% chance of $SOL ETF Approval this year!
Final deadline is 10/10/2025
Once approved, $SOL goes above $300
Position yourself! pic.twitter.com/Q3kVvWONVA
— Lana Queen (@Lana_Queen7) April 30, 2025
Technical Analysis – Solana Trading at 4-Hour Resistance
Solana is currently oscillating around the $154.93 resistance. If buying volumes increase, and drive Solana through resistance, the price could hit $200 soon.
If Solana bulls fail at the $154.93 resistance and bears take control, a correction to $151.4 support could follow.
eToro Platform
Best Crypto Exchange
- Over 90 top cryptos to trade
- Regulated by top-tier entities
- User-friendly trading app
- 30+ million users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
Advertisement
