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Solana (SOL) Surges 5% on Heavy Volume and Strengthening DeFi Metrics
Institutional investors appear to be flocking to SOL as DeFi metrics show remarkable growth, creating a strong technical foundation for further gains.
Updated May 14, 2025, 3:43 p.m. Published May 14, 2025, 2:26 p.m.
What to know:
- Solana (SOL) jumps 5% in 24 hours, climbing from $172.53 to $181.39 amid strong volume support and growing DeFi metrics.
- Geopolitical tensions and trade disputes between major economies create market volatility, with investors seeking refuge in select cryptocurrencies.
- Solana's DeFi ecosystem shows remarkable growth with total value locked increasing from $7.5 billion to $9.6 billion in May, driving investor confidence.
Global markets are navigating uncertain waters as trade tensions between major economies intensify, creating ripple effects across traditional and cryptocurrency markets.
Against this backdrop, Solana has emerged as a standout performer, surging over 5% in a volatile 24-hour period and establishing new support above the crucial $180 level for the first time since February, according to CoinDesk Research's technical analysis data model.
STORY CONTINUES BELOW
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Technical Analysis Highlights
- SOL formed a clear uptrend with strong volume support at the $173 level, followed by an explosive breakout at 19:00 when it surged 5.8% on 2.5M volume—more than double the 24-hour average.
- Despite a pullback from the $184.72 high, SOL maintained support above $180, suggesting continued bullish momentum with resistance now established at $184.
- In the last hour, SOL experienced significant volatility, climbing to a peak of $182.47 before encountering strong selling pressure that drove prices down to $180.21, representing a 1.24% decline.
- The price action formed a clear distribution pattern with volume spikes exceeding 79,000 units during the sharp correction, establishing a new resistance zone around $182.00-$182.50.
- After finding support near $180.37, SOL attempted a recovery toward $181.50 but faced renewed selling, suggesting consolidation between $180.80-$181.40 as traders reassess the broader uptrend's sustainability.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.
External References
- "Solana Price Prediction for May 14", Coin Edition, published May 13, 2025.
- "Solana Hits $22.39B Weekly DEX Volume, $9.44B TVL, SOL Price at $172.88", The Defiant, published May 13, 2205.
- "Solana Network Activity Grows As 11M Wallets Now Hold 0.1 SOL Or More – Analyst", NewsBTC, published May 14, 2025.
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