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In a massive development for the crypto industry and DeFi in particular, the US Treasury has officially dropped the crypto broker reporting rule. This comes just months after Congress revoked the IRS tax rule. DeFi Scores Big Win As Treasury Drops Crypto Broker Reporting Rule According to a Bloomberg report, the Treasury Department has scrapped
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The post Solana Price Analysis: Key Insights and Updates appeared first on Coinpedia Fintech News
The wider altcoin market, led by Solana (SOL), gradually gained bullish momentum in the past two weeks, as Bitcoin (BTC) price invalidated bearish sentiment after rebounding above $95k. Analysis on various on-chain metrics shows the crypto FOMO has crept back in the past week, as the trade wars weakens amid ongoing diplomatic negotiations.
The Bitcoin’s fear and greed index surged from 47 percent, representing neutral, to 63 percent, suggesting greed, in the past two days. Ethereum’s fear and greed index surged from 44 per to 61 percent in the past two days. The wider altcoin followed the top two digital assets in regards to the fear and greed index.
After gaining over 14 percent in the past week, SOL price is about to record its third consecutive bullish week. Consequently, the large-cap altcoin, with a fully diluted valuation of about $92 billion and a 24-hour average trading volume of about $5 billion, has approached a crucial resistance level around $159.
In the daily timeframe, SOL price is well positioned to rally above $180, if Bitcoin price continues with bullish momentum towards $99.4k. However, if Bitcoin price gets to retest the support level above $91k, SOL price will likely drop to the support range between $125 and $135.
From a technical analysis standpoint, SOL bulls have gained significant ground over the bears after the daily MACD line crossed above the zero line amid growing positive histogram bars. Additionally, the daily Relative Strength Index (RSI) has surged above 52 for the first time since the second inauguration of the U.S. President Donald Trump.
The Solana ecosystem has grown significantly in the past year, bolstered by the validation from institutional investors and notable developments of its DeFi platforms. According to market data from Defillama, Solana network had a total value locked (TVL) of about $8 billion and a stablecoins market cap of around $12 billion, at the time of this writing.
Some of the latest developments in the Solana ecosystem includes Nous Research’s $50 million raise in Series A led by Paradigm VC.
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Bullish momentum has been building up for Solana, amid a highly anticipated altseason before the end of 2025. The DeFi projects on Solana network have recorded significant growth in cash inflows, and on-chain activity. The wider altcoin market, led by Solana (SOL), gradually gained bullish momentum in the past two weeks, as Bitcoin (BTC) price …
Speculation is mounting about the US government’s possible incorporation of XRP tokens into its national financial reserves, as well as the potential seizure of Ripple’s XRP escrow. However, Ripple lawyer Bill Morgan has denied these rumors, pouring cold water on the speculation. Is the US Govt. Planning to Seize Ripple’s XRP Escrow? In a recent
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The crypto market is gaining today, May 7, ahead of the FOMC meeting in which Fed Chair Jerome Powell is expected to announce an interest rate decision. The market has already priced in zero rate cuts, and the focus is on Powell’s speech and whether he will signal cuts in June. If the Fed Chair makes a dovish speech, USA altcoins will be a good choice for crypto investors to buy, as they are poised to make notable gains.
Investors are in consensus that the Fed will leave rates unchanged between 4.25% to 4.50% at today’s meeting. However, attention is shifting to what Powell will say in his speech, with analyst Daan Crypto stating,
“The Fed is expected to keep rates the same. The market will be eager to watch for any dovish or hawkish changes in their tone, which has been pretty mixed recently.”
Data from CME FedWatch Tool further shows that 30% of investors expect the Fed to trim rates in June, and this figure will likely change based on what Powell says today. If the speech builds optimism, crypto prices, especially USA altcoins, are poised to rally as investors rush to buy.
Moreover, President Trump will likely react to Powell’s speech today and the Fed’s failure to lower rates. This reaction may also spike the market’s volatility, as was the case last month when crypto prices dropped after Trump openly criticized Powell.
If Powell’s speech is hawkish, traders should anticipate a price crash for Bitcoin and altcoins, as this will mean a stronger dollar that will affect demand for risk assets. In a note to investors, the Commonwealth Bank of Australia acknowledged this, saying,
“Another possible source of support for the dollar is today’s (Fed) meeting… if Chair Powell strikes a hawkish tone to assert his independence from political influence.”
As speculation about the impact of this event on crypto prices grows, investors may consider to buy USA altcoins as these will likely perform well if Powell is dovish and if his speech also supports recovery for the greenback.
Some of the best USA altcoins to buy today for notable gains include Ripple (XRP), Solana (SOL), and Chainlink (LINK). These crypto tokens have a bullish outlook and strong fundamentals that could aid a notable price recovery based on the direction that the Fed takes after the FOMC meeting.
If the Fed’s speech is bullish for crypto tokens, XRP is one of the top USA altcoins to buy for notable gains as it tests resistance at the 50-day SMA level of $2.17, and if it can successfully move above this price to aim for $2.40, it will create the next bullish leg to $2.94. However, this uptrend will occur if the AO bars shift to green and rise to indicate that the momentum is bullish.
The price of Solana is defending a key support level at $139, as the volume histogram bars indicate that buyers have been dominant in the last three days. Meanwhile, the RSI above 50 confirms a bullish Solana price prediction as the Bollinger bands tighten to suggest a looming breakout. If the breakout occurs, traders should anticipate a move past $180, making SOL among the best made-in-USA altcoins to watch.
The Chainlink price forecast is also bullish after the long/short ratio on the Binance exchange showed that 65% of traders have opened long positions on the token. The build-up in long positions suggests that most futures traders are bullish on this USA altcoin and anticipate notable gains. This outlook could see more investors flock to buy LINK, and this will be even more possible with a dovish speech by the Fed Chair.
The crypto market will likely extend gains if the Fed Chair signals interest rate cuts in June while giving his speech today. If this happens, some of the top USA altcoins to buy for notable gains include XRP, SOL, and LINK, which eye notable gains as the technical outlook and futures data show a bullish outlook.
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