Solana’s Bullish Momentum Builds as Price Nears Key Resistance at $150
Solana (SOL) is showing signs of renewed bullish momentum as its price approaches the critical resistance level of $150. Currently trading at $146.40, SOL has posted modest daily and weekly gains of 2.13% and 2.48%, respectively. Despite failing to sustain its April 25 peak of $156, the cryptocurrency remains range-bound with key support levels between $130 and $114. Technical indicators suggest a neutral stance, with the Relative Strength Index (RSI) at 54.47 indicating balanced momentum and a Chaikin Money Flow (CMF) of 0.06 reflecting modest buying pressure. Traders are closely watching the $150 resistance level, as a breakout could trigger significant short liquidations and propel SOL toward higher targets. The short-term outlook remains cautiously optimistic, with potential for upward movement if buying pressure intensifies.
Solana Price Crosses $145 As Massive Short Liquidations Loom
Solana’s SOL token hovered at $146.40, marking a 2.13% daily gain and 2.48% weekly increase. The asset remains range-bound after failing to sustain momentum following its April 25 peak of $156.
Technical indicators suggest neutrality—the RSI at 54.47 reflects balanced momentum, while a CMF of 0.06 indicates modest buying pressure. Key support holds at $130-$114, with resistance forming NEAR $150. The short-term outlook shows consolidation without decisive directional bias.
DeFi Development Corp Announces 7-for-1 Stock Split Following Crypto-Driven Surge
DeFi Development Corp., a former real estate software firm now pivoting to crypto investments, will execute a 7-for-1 stock split effective May 20. Shareholders of record as of May 19 will receive six additional shares for each share held, significantly increasing the company’s outstanding shares.
The move comes amid a meteoric rise in the company’s stock price, which has skyrocketed from under $4 to over $70 in just one month. This rally follows the firm’s strategic shift into the Solana ecosystem, including its $58 million SOL holdings and recent acquisition of a validator business.
The split, approved by the board and pending final regulatory steps, underscores how traditional companies are increasingly leveraging crypto assets to drive valuation growth. DeFi Development Corp.’s transformation mirrors broader institutional adoption trends in blockchain infrastructure.
’Pahalgam’ and ’Operation Sindoor’ Crypto Tokens Surface Online Amid Security Warnings
New cryptocurrency tokens named ’Pahalgam’ and ’Operation Sindoor’ have emerged on platforms like the Solana blockchain, raising red flags among security analysts. Both tokens lack essential safeguards: no verified on-chain data, absent audits, and anonymous development teams. market observers warn these projects may be rug pulls or deceptive schemes targeting uninformed investors.
The tokens’ nomenclature adds another layer of concern, with ’Operation Sindoor’ directly referencing a sensitive Indian military operation. Such thematic exploitation of geopolitical events often precedes pump-and-dump schemes in the crypto space. The Solana blockchain’s association with these tokens highlights the ongoing challenge of policing decentralized networks.
Saros Crypto Emerges as Solana-Based DeFi Liquidity Engine
Saros, a decentralized finance platform positioning itself as a ’New Generation Liquidity Engine,’ is gaining attention for its all-in-one Web3 financial toolkit. Built on Solana’s high-performance blockchain, the project aims to streamline decentralized trading and asset management.
The platform’s focus on liquidity solutions comes as Solana continues to attract DeFi developers seeking alternatives to Ethereum’s network congestion. Saros joins a growing ecosystem of Solana-based projects capitalizing on the blockchain’s speed and low transaction costs.
