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The Solana price dropped 2% in the past 24 hours to trade at $179.92 as of 4:40 a.m. EST, with trading volume plunging 31% to $22.6 billion.
According to Bitwise CIO Matt Hougan, traditional finance (TradFi) companies are seeking higher returns in the cryptocurrency space.
The Bitwise CIO says the trend of investing in crypto treasury companies is in an early phase. According to Hougan, the trend is only going to accelerate in the coming months, predicting that the altseason is underway.
Can the Solana price be on the verge of a sustained rally in the coming weeks?
Solana Price Poised For Breakout: Can Bulls Push Toward $250?
The SOL price shows a strong bullish recovery from the April lows around $100, marking a nearly parabolic ascent that recently peaked near $206.42.
SOL’s recent breakout above the 200-day Simple Moving Average (SMA) ($162.79) and 50-day SMA ($160.46) is a clear bullish signal, demonstrating that medium-term sentiment has shifted decisively in favor of the bulls, as GeckoTerminal data shows.
The Solana price action is currently consolidating just below the recent swing high, indicating possible profit-taking or short-term resistance.
After retracing to the 0.618 level around $99.53 and bouncing strongly, the Solana price broke through the 0.382 ($139.35) and 0.236 ($165.60) zones with confidence, confirming buyer dominance.
Meanwhile, the Relative Strength Index (RSI) is currently at 54.50, having cooled off from an earlier overbought level. This is an indication that momentum is still slightly bullish, leaving room for another upward movement.
As long as the price of Solana remains above the $165 support zone, a continuation toward the $250 region is possible.
However, should SOL drop back below $160 and invalidate the recent breakout, a retracement to the $140.3 (0.382 Fib level) area could occur before bulls attempt another move higher. Trades will want to watch the 50-day SMA closely; a breakdown below it would shift the short-term outlook back to neutral.
Meanwhile, opportunistic investors are buying a new ICO crypto called Snorter Token (SNORT). According to Jacob Crypto Bury, a popular crypto YouTuber with over 57.5K subscribers, SNORT could soar 100X on launch.
Snorter Token Presale Heads For The $3 Million Milestone
Snorter Token is a new meme coin and utility token powering the Snorter bot, a Telegram-based crypto trading bot. Snorter bot promises advanced capabilities, including meme coin sniping, copy trading, and limit orders, making it one of the most exciting bots for traders.
Its advanced algorithms help investors navigate volatile markets, automate risk management, and capitalize on opportunities faster than manual trading.
The bot is entering a space where most users currently favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions.
However, Snorter bot beats the competition in terms of fees. By simply holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram crypto trading bots.
Went outside. Touched grass. Immediately hated it. Back to the chaos. pic.twitter.com/XgGz1f7cCE
— Snorter (@SnorterToken) May 19, 2025
Investors have already pushed over $2.57 million into the project, as the ICO races towards $3 million.
In addition to its trading features, staking rewards currently sit at 165%, but this decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.0997. Tokens can be bought with SOL, ETH, BNB, or a bank card, and staked directly on the official website.
Interested investors will want to buy before the next presale price hike in about 1 day.
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