Solana Soars 36% in Wild Rally—$150 Breached as Traders Eye $200 Next

Solana (SOL) just pulled off a jaw-dropping 36% surge, smashing past $150 and leaving skeptics scrambling. Is this the launchpad for a run at $200—or another ’buy the rumor, sell the news’ circus?

Technical breakout or overhyped momentum? The charts scream bullish, but let’s see how long the ’institutional adoption’ narrative holds before the next crypto margin call.

Cryptocurrencies Surge Amid New Arizona Bill

The latest market rally comes amid the Arizona Governor signing a Bitcoin reserve fund bill into law. The move comes as a relief to crypto investors and advocates, especially given that Florida withdrew two crypto bills from the table. SOL and other crypto assets may have benefited from the development.

BTC is currently facing resistance at the $99,000 mark. SOL, on the other hand, currently faces resistance at the $150 level. SOL could experience a breakout if BTC reclaims the $100,000 level.

Can Solana Hit $200 Next?

According to CoinCodex analysts, Solana (SOL) could enter a sideways trajectory over the coming weeks. The platform anticipates the asset’s price to dip to $136.18 on May 24. SOL’s price will face a 9.45% correction if it falls to $136.18.

There is also a possibility that SOL will not face a correction as predicted by CoinCodex. There is a chance that the Federal Reserve will cut interest rates soon. A rate cut could lead to a surge in risky investments as borrowing becomes easier.

SOL could also experience a rally if BTC continues its upward momentum. The original crypto is 9% away from its all-time high of $108,786. There is a chance that BTC will hit a new all-time high if it reclaims the $100,000 mark.