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The Solana price surged 5% in the past 24 hours, trading at $172.98 as of 3:45 a.m. EST, with trading volume plunging 39% to $7.3 billion.
This comes after US House lawmakers returned to the floor to push forward with landmark cryptocurrency legislation, following a previous routine vote that turned rowdy earlier in the week.
The US House of Representatives voted 215 to 211 on Wednesday to move forward and later take a vote on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS bill).
The bill would create a regulatory framework for stablecoins and could be slated to head to President Donald Trump’s desk before the end of the week.
BREAKING: 🇺🇸 US HOUSE JUST PASSED #BITCOIN AND CRYPTO BILLS ON AGREEING TO THE RESOLUTION.
HERE WE GO!!! pic.twitter.com/GWjfW1hv53
— Vivek⚡️ (@Vivek4real_) July 17, 2025
Lawmakers also voted to proceed with the Digital Asset Market Clarity Act. With crypto now finding a more favorable regulatory space in the US, can Solana continue to soar?
Solana Price Breaks Out: Bullish Momentum Builds Toward This Barrier
The SOL price is showing renewed bullish momentum after rebounding from a recent low near $122.
The Solana price has surged past key resistance levels and is currently trading at $172.98, gaining over 6% in the latest 3-day candle.
This move comes after a breakout from a descending wedge pattern and a successful retest of the 200 Simple Moving Average, as GeckoTerminal data shows.
Recent Solana price action has seen the altcoin rise back up to the 0.236 Fibonacci level ($147.03), which is located between the swing high of $187.33 and the low of $122.01, indicating a strong recovery in bullish sentiment.
Meanwhile, the 50 ($147.03) and 200 ($153.63) Simple Moving Averages (SMAs) have been reclaimed as support, which strengthens the case for continued upward momentum.
The Relative Strength Index (RSI) is also at 59.69, indicating bullish conditions but not yet overbought, which suggests that buyers still have some time to take advantage of the market.
The Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the blue MACD line at 2.15, above the orange signal line at 1.81, reinforcing the short-term bullish trend.
If the bullish momentum continues, SOL may retest the recent swing high around $187.33. A breakout above this level could open the door to a push toward the psychological resistance of $200.
However, if the Solana price fails to hold above the $147-$153 support, it could see a pullback toward $122 or even the 0.5 Fibonacci level at $101.94.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO crypto called Snorter Token (SNORT).
According to 99Bitcoins, an influential crypto channel on YouTube with over 723K subscribers, SNORT could soar 10X on launch.
Snorter Token Presale Nears The $2 Million Mark – Next 10X Crypto?
The Snorter Token presale is generating strong traction, having already crossed the $1.96 million mark in early funding.
Snorter Bot is a full-stack, Telegram-native trading assistant built to help everyday traders snipe high-upside meme coins the moment they launch, with the speed, automation, and protection that until now was only available to whales.
Its advanced algorithms help investors navigate volatile markets, automate risk management, and capitalize on opportunities much faster than they would if trading manually.
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.
In addition to its trading features, staking rewards currently sit at 200%, but this decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.0985. Tokens can be bought with SOL, ETH, BNB, or bank card, and staked directly on the official site.
Interested investors will want to buy before the next presale price hike in less than 2 days.
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