Solana News: SOL Price at Critical Juncture as $117 Support Faces Test

In the volatile world of cryptocurrency, Solana (SOL) is currently at a pivotal moment. After failing to sustain a new all-time high, SOL’s price is now testing a crucial support level at $117, which could determine its medium-term direction. Here’s a closer look at the situation.

Solana Price at Crossroads as Key Support at $117 Faces Test

Solana (SOL) price has reached a crucial level after failing to sustain a new all-time high NEAR $295. Recently, bearish divergence on the weekly chart raised concerns about the strength of the recent uptrend. SOL is currently testing the $117 area, which combines horizontal support with the 1.618 Fibonacci level. This support has held firm for over a year, and its outcome may define Solana’s medium-term direction. Investors are closely watching this key support level, with two possible scenarios in view: a strong upward continuation or a gradual decline below key technical thresholds.

Whale.io Migrates to Solana for Scalable, Interactive NFTs

NFTs have evolved beyond static images on the blockchain, now offering play-to-earn games, exclusive community access, and rewards. The blockchain plays a crucial role in meeting these demands, but some platforms can’t support the speed, scalability, and complexity required by today’s NFT holders. After a successful year on the TON blockchain, Whale.io has decided to move to Solana to provide more for its growing community. TON helped Whale.io’s early success, but it couldn’t support deeper functionality. This transition to Solana is a critical step forward for Whale.io.

Solana Trader Quietly Enters Promising AI Crypto Project IntelMarkets

A well-known Solana (SOL) trader has quietly invested in IntelMarkets, a new AI crypto project. The trader believes that the INTL token could 20x in value before June. The project has already accumulated over $12 million in ten presale stages, with INTL tokens currently available for $0.09. Early investors have a chance to quadruple their investment with guaranteed 400% gains as the listing price has been fixed at $0.42. While many traders focus on Solana’s price movement, smart money investors are buying INTL tokens for high gains.

Solana News: Suspicions of Large-Scale SOL Transactions

Blockchain analysis firm Lookonchain has raised suspicions about pump.fun, a meme coin generator on Solana, quietly selling 65,284 SOL ($8.22 million). According to the platform, the SOL tokens were deposited to Kraken and shortly after, 3 newly created wallets withdrew the exact amount and sold it for 8.22M $USDC.