Solana Surges 1.281% as Institutional Interest Grows

Crypto FrenzyTuesday, May 20, 2025 8:08 pm ET
1min read

Solana's latest price was $168.53, up 1.281% in the last 24 hours. This increase comes as institutional interest in Solana continues to grow, with major players accumulating and staking significant amounts of the cryptocurrency ahead of a potential altcoin season. Over 65% of SOL’s supply is now staked, and Q1 2025 app revenue reached $1.2 billion, the strongest in a year. These trends, combined with positive on-chain flows and ecosystem expansion, position Solana as a frontrunner if altcoin momentum returns.

Despite the positive trends, the Ichimoku Cloud chart for Solana currently reflects market indecision with a slight bearish tilt. Price action is hovering inside the green cloud, suggesting consolidation and a lack of clear direction. The blue Tenkan-sen (conversion line) sits below the red Kijun-sen (baseline), indicating short-term weakness. The Chikou Span (green lagging line) is tangled in recent price action, reinforcing the neutral-to-bearish bias. Ahead, the cloud shifts to red and appears flat, pointing to potential resistance and low momentum unless a strong breakout occurs.

Solana’s BBTrend is currently at -4.31, marking its third consecutive day in negative territory. Over the past several hours, the indicator has remained stable around -4, suggesting consistent bearish pressure in the short term. The BBTrend (Bollinger Band Trend) measures the strength and direction of price movement relative to the width of the Bollinger Bands. Values above 0 typically indicate bullish momentum, while values below 0 signal bearish momentum. A BBTrend at -4.31 reflects strong downward pressure and limited volatility expansion to the upside. If this trend continues, it may point to further consolidation or even a deeper pullback unless a sharp reversal breaks the pattern.

Solana’s EMA lines are converging and could soon form a death cross, a bearish technical signal where the short-term EMA crosses below the long-term EMA. On the other hand, if Solana regains bullish momentum, the first resistance to watch is at $176.77. A successful breakout above this level could open the door for a further rally toward the $184.88 zone.