Solana (SOL) pushed in direction of $150 right this moment, gaining over 3% previously 24 hours and reclaiming its 20-day EMA, fueled by optimistic ecosystem developments and continued market curiosity.
Information surrounding Backpack Change’s SOL staking initiative and potential adoption by Robinhood in Europe provides basic weight to the continued technical restoration.
Backpack Change Begins Staking SOL Reserves
Including to Solana’s information circulation right this moment, Backpack Change made a notable transfer: the platform, led by Armani Ferrante, introduced it has began staking its SOL reserves.
We’re starting the method of staking @Backpack
Change SOL reserves.To start out, we intention to supply the complete staking yield to all lenders–with the purpose of finally offering the yield to all depositors.
For now, I anticipate most platforms monitoring our wallets to…
— Armani Ferrante (@armaniferrante) Could 8, 2025
In keeping with Ferrante’s posts on X (previously Twitter), the change goals to move the complete staking yields generated onto lenders, with plans to finally prolong this to all depositors.
Whereas this shift enhances utility inside Backpack and promotes long-term worth, Ferrante identified it additionally briefly skews Complete Worth Locked (TVL) figures on some monitoring websites not configured for one of these staking.
Ferrante assured customers that pockets addresses stay constant, though extra wallets could quickly be added to handle inflows.
This staking technique could tighten circulating provide, probably boosting SOL value within the close to time period, particularly if different platforms comply with swimsuit.
Robinhood Explores Solana for European Growth
Additional boosting sentiment round Solana, Bloomberg reported that the retail buying and selling large Robinhood is contemplating the blockchain for brand spanking new buying and selling infrastructure in Europe.
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Robinhood is reportedly exploring methods to let European customers commerce U.S. securities immediately on-chain. Solana’s community, identified for prime speeds and low charges, was talked about as a robust candidate.
SOL Technical Evaluation: Momentum Builds as Worth Exams Resistance
Turning to the charts, SOL’s value motion exhibits constructing bullish momentum on the 4-hour view. On the 4-hour chart, SOL bounced from an area help close to $141.48 (Fib 0.786 stage) and is now testing resistance round $151.97.
The RSI (Relative Energy Index) is at 60.37, indicating bullish momentum however not but overbought—implying room for additional positive aspects.
In the meantime, the MACD (Shifting Common Convergence Divergence) has simply flipped optimistic, with the MACD line crossing above the sign line, suggesting that bulls are trying a takeover.
Supply: TradingView
Moreover, the Fibonacci Ranges point out robust resistance at $153.62 (0.236 Fib). If bulls break this stage, the following key targets lie at $157.71 (Fib 0), $165.26 (1.618 Fib), $173.50 (2.618 Fib). A sustained rally may even eye $182+ (3.618–4.236 Fib).
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However, if value fails to interrupt above $153 and retraces, quick help lies at $147.74 (Fib 0.382) and $141.48 (Fib 0.786). A fall under this stage could expose deeper draw back towards $136.40 (1.618 extension).
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