Solana’s Bullish Momentum: SOL Nears $150 Amid Market Uncertainty

Solana’s SOL token is showing strong bullish signals as it approaches the $150 mark, with traders accumulating long positions ahead of key macroeconomic events. Despite broader market uncertainties, SOL’s resilience positions it as a standout performer in 2024.

Solana Nears $150 as Traders Anticipate Bullish Rally Amid Macro Uncertainty

Solana’s SOL token approaches the $150 threshold as market participants position for a potential upward surge. The asset gained momentum Wednesday ahead of a pivotal FOMC meeting, with derivatives traders accumulating long positions.

While macroeconomic headwinds and geopolitical risks cloud the broader crypto market’s May outlook, SOL demonstrates relative strength. The Ethereum competitor entered 2024 with heightened expectations, including speculation about potential ETF developments following Bitcoin’s regulatory milestones.

Robinhood Plans Blockchain-Based Trading for US Securities in Europe

Robinhood is advancing plans to launch a blockchain-based trading platform in Europe, targeting retail investors seeking access to US securities. The platform, expected to partner with a digital-asset firm, may leverage Arbitrum or Solana’s blockchain infrastructure—though discussions remain ongoing.

Tokenized US securities represent a growing trend as financial institutions explore blockchain’s potential to reduce costs and enhance transparency. Robinhood’s move aligns with broader industry shifts toward decentralized infrastructure.

Solana (SOL) Struggles to Break Key Resistance at $151 Amid Weak Momentum

Solana’s SOL faces persistent resistance NEAR the $151 level despite multiple bullish attempts, currently trading around $147. The 100-day Exponential Moving Average has solidified into a psychological barrier, with the asset failing to close above it for five consecutive sessions. Market participants remain skeptical about the sustainability of SOL’s recovery from March lows, given the absence of strong volume support.

The Relative Strength Index at 59 suggests neutral-to-bullish conditions, yet reflects insufficient buying pressure for a decisive breakout. A more formidable challenge awaits at the 200-day EMA near $161—a level that historically separates bearish and bullish regimes. Traders appear to be taking profits rather than establishing new positions at current valuations.

Meme Coin Mayhem: Japanese Star Yua Mikami’s Token Drops 80% Post-Launch

Yua Mikami, a prominent Japanese entertainment figure with no prior crypto involvement, launched the meme coin MIKAMI on the Solana blockchain. The token initially drew significant attention but has since plummeted over 80% from its peak, leaving pre-sale investors with losses of up to 60%.

The MIKAMI pre-sale concluded on May 3, 2025, raising over 23,000 SOL (approximately $3.4 million at the time). According to the project’s official X account, 17,560 valid addresses participated, contributing a total of 23,320.74 SOL. The team’s subsequent actions remain unclear as the coin’s value collapsed shortly after launch.