What's Behind the Current Focus on Solana and Chainlink?

Solana (SOL) forecast keeps moving higher as the token passed $144. The crypto is getting attention for activity from large investors. Firms like Upexi and DeFi Development Corporation are now holding big SOL reserves and operate validator nodes.

Solana has also been named in a proposal for a national crypto reserve. A recent report by Benzinga mentions the role of Solana (SOL) in a draft bill aiming to establish a national digital asset reserve. The bill, crafted by House Democrats, envisions investing up to $1 billion in crypto. Among the suggested tokens are Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). It aims to support the industry while generating revenue for the government.

The crypto is also getting attention for its role in new initiatives. At the beginning of April, Solana Labs announced the integration of email marketing service SendPulse. This partnership will introduce email capabilities to Solana projects, enabling them to create email campaigns and manage email lists directly within the SendPulse platform.

The new addition to the Solana ecosystem is Payrix, a crypto-focused payments startup. Their service allows users to buy, sell, and hold various cryptocurrencies, including Bitcoin, Ethereum, Solana, and others, through bank transfers or card payments. Payrix will handle the compliance aspects for payments, while users can manage their crypto assets using Payrix’s digital wallet.

Solana price prediction: Is there time to buy SOL at lower prices?

The present price of Solana is $143.64, indicating a 0.15% decrease over the last 24 hours.

The technical analysis shows that the bears are in control of the price trend in the short term. This is evident from the position of the Bollinger Bands and the Stochastic Relative Strength Index (RSI). The price is currently in the lower band of the Bollinger Bands, and the RSI is in the oversold territory.

However, the Moving Average Convergence Divergence (MACD) shows that the momentum is still positive, and the price is expected to rise in the long term.

Short-term Solana price targets

The price of Solana could fall to the next support level, which is at $140.00. If the bears extend the current wave, then the price of Solana could decline further to reach the next support, which is at $135.00.

On the other hand, if the bulls manage to push the price from the current level, then the next resistance level is at $148.00. A further rally could take the price to the next resistance, which is at $150.00.

On shorter time frames, the technical analysis shows that the bears are in control of the price trend. The price is currently testing the support at $143.00, and it could continue to fall in the short term.

However, the MACD shows that the momentum is still positive, and the price is expected to rise from the current level.

Solana price prediction: Is there time to buy SOL at lower prices?

The present price of Solana is $143.64, indicating a 0.15% decrease over the last 24 hours.

The technical analysis shows that the bears are in control of the price trend in the short term. This is evident from the position of the Bollinger Bands and the Stochastic Relative Strength Index (RSI). The price is currently in the lower band of the Bollinger Bands, and the RSI is in the oversold territory.

However, the Moving Average Convergence Divergence (MACD) shows that the momentum is still positive, and the price is expected to rise in the long term.

Short-term Solana price targets

The price of Solana could fall to the next support level, which is at $140.00. If the bears extend the current wave, then the price of Solana could decline further to reach the next support, which is at $135.00.

On the other hand, if the bulls manage to push the price from the current level, then the next resistance level is at $148.00. A further rally could take the price to the next resistance, which is at $150.00.

On shorter time frames, the technical analysis shows that the bears are in control of the price trend. The price is currently testing the support at $143.00, and it could continue to fall in the short term.

However, the MACD shows that the momentum is still positive, and the price is expected to rise from the current level.

Solana news: Upexi to invest $1 billion in crypto firms and Chainlink joins SEC taskforce

Among the interesting pieces of Solana news is that crypto startup Upexi is planning to invest $1 billion in companies operating in the Solana ecosystem over the next 12 months. The investment