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The Solana price surged 8% in the past 24 hours, trading at $143.57 as of 12:12 a.m. EST, with trading volume rising 24% to $6.8 billion.
The surge in the SOL price has pushed the altcoin to the top of CoinMarketCap’s trending list.
That’s as crypto prices spiked in the last 24 hours after US President Donald Trump said that Iran and Israel have agreed to a ceasefire, purportedly putting an end to days of bombing.
The cryptocurrency market has surged by over 2% in the last 24 hours, reaching a market capitalization of $3.35 trillion.
Could this upward momentum in the broader crypto market influence the price of Solana?
Solana Price Gears Up For A Breakout
After hitting higher levels around $272 in January, the SOL price has been trading within a falling wedge pattern.
Bears have had control for a long time, which caused the price of Solana to drop below the lower boundary of the wedge.
The drop resulted in the price of Solana forming a rounded bottom pattern, which pushed the price of Solana back to the upper boundary of the wedge.
However, SOL invalidated the bullish outlook and continued to consolidate within the falling wedge pattern.
As a result, Solana has now dropped below both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the recent bearish sentiment, as GeckoTerminal data shows.
Meanwhile, after touching the lower boundary of the wedge at $134.55, the bulls have taken control of the price, mainly due to the positive sentiment within the crypto markets, and pushed it up as the wedge’s trendlines converge.
As a result of that bounce, the Relative Strength Index (RSI) at 44 appears to be recovering, indicating that buyers are regaining control of the Solana price.
Will SOL Push Towards $180 After Israel-Iran Ceasefire?
If this momentum continues, the price of Solana could recover, pushing through the upper boundary at $159 (50-day SMA), as it aims for the neckline of the rounded bottom (previous resistance) at $180.
However, neither Iran nor Israel officially endorsed Trump’s announcement, which leaves room for escalation.
If the Solana price reacts to the escalation of the conflict, it could plunge back to the long-term support around $125.44.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could potentially soar 10X after launch.
Bitcoin Hyper Presale Charges Towards The $2 Million Mark – Best Crypto To Buy Now?
Bitcoin Hyper could finally bring Bitcoin into the modern crypto age as it leverages layer-2 technology to solve Bitcoin’s slow transactions and high fees.
The project is building a layer-2 network on top of Bitcoin’s blockchain, utilizing the Solana Virtual Machine (SVM) to deliver lightning-fast transactions and extremely low fees.
The magic happens through a Canonical Bridge, a secure system that lets you deposit your BTC, get wrapped tokens for use on the layer-2, and move back to Bitcoin’s main chain whenever you want.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Bitcoin Hyper’s presale is gaining momentum rapidly. The project has already raised over $1.55 million.
Additionally, if you buy and stake now, you could unlock a 495% APY; however, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.012 each using crypto or a bank card.
Buy before the next price increase in about 9 hours.
Visit the Bitcoin Hyper website.
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