Key notes
- Solana (soil) skyrocketed almost 6% during the last day, well above the EMA of 20 and 50 days.
- Sol Strategies has announced a convertible ticket of $ 500 million offering only the purchase of soil.
- An analyst predicted that soil could soon be negotiated above the price level of $ 200 in a weekly increase of 14%.
Solara
GROUND
$ 148.8
24h volatility:
2.1%
COURTIC CAPESSION:
$ 77.05 B
Flight. 24 hours:
$ 2.58 B
jumped 5.91% in the last 24 hours to reach $ 154.47 at the time of the press, continuing its solid weekly rally of almost 15%.
A major catalyst behind the explosion of soil prices is a historic agreement announced by Sol Strategies, a Canadian investment company in crypto.
$ 500 million to buy soil?
On Wednesday, the company revealed a convertible ticket installation of $ 500 million from the investment company based in New York Atw Partners. The capital will be used exclusively to buy ground tokens for the production of implementation elements
This marks a leading agreement in the Solana ecosystem. According to a press release, an initial disbursement of $ 20 million will be received on May 1, with a potential of $ 480 million to follow in the slices.
Interest payments will be made in the soil chips generated through stalement, highlighting the long -term conviction in the growth of the Solana ecosystem.
“This is the largest financing installation of the genre in the Solana ecosystem and the first directly linked to the stimulation yield,” noted Leah Wald, CEO of STRATEGIES.
The company, already registered on the CSE of Canada and the OTCQX based in the United States, also continues to register in the NASDAQ to evolve its scope among institutional investors.
Technical escape: the upward ascending triangle
The ground graph reveals a model of ascending triangle of the manuals which has been formed since the end of 2024.
With strong support for $ 147.48 and a highest series of stockings, the bulls finally pushed resistance to resistance nearly $ 150, indicating a break.
According to a prominent analyst of the cryptography market, this model is an accumulation structure – a strong bullish signal suggesting a sustained demand and ascending pressure.
If the escape argues, soil could climb to the next main resistance at $ 180.63 (Fibonacci extension 1.618), followed by ambitious targets at $ 232.73 (2.618 FIB) and even $ 288.51, the top of the triangle model.
If the market dynamics persist, Solana could even resume the level of $ 317 (4.236 FIB) in the coming months.
Solana Daily Chart | Source: tradingView
On the other hand, the daily RSI is 66.46, approaching exaggerated territory, which signals a strong bullish dynamic, but warns against possible short -term declines.
Meanwhile, the MacD indicator also flashes green, the MacD line at 6.15 crossing the signal line at 2.75, strengthening the strength of the current rally.
It is also important to note that Sol is well above its key exponential moving means: the 50-day EMA ($ 138.37) and the 20-day EMA ($ 136.70), which now act as levels of critical support in the event of a correction.
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Cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the world of crypto and finance, the collection of experience and expertise in space after having survived bear markets and bulls over the years. STHTH is also an author of 4 self-published books.
Parth Dubey on LinkedIn
