Key Insights
- Solana price climbed 25% on March 2, 2025 and exceeded the 20-day EMA.
- SOL will be one of the altcoins in the future U.S. cryptocurrency reserves, according to President Trump.
- One of the few blockchains that saw positive network growth in February was Solana.
Solana (SOL) price has experienced strong buying pressure near the major support zone of $120. After a continuous fall in SOL price, buyers have bounced back and a bullish move was seen. It surged by 25% in a day and has exceeded the 20-day EMA.
Can a Crypto Reserve Boost This Industry?
One of the cryptocurrencies that will be included in the next U.S. crypto reserve is Solana. In response, there has been a significant bullish increase in Solana price action.
The cryptocurrency market has been anticipating confirmation from President Trump’s administration about Bitcoin’s status as a reserve asset.
The president of the United States has, however, announced plans to establish a U.S. crypto reserve, which will house several cryptocurrencies, including SOL.
To put it another way, the US government plans to include Solana as a national reserve asset in addition to recognizing it.
Notably, in a follow-up post on Truth Social, Trump noted that BTC and ETH would also be part of the reserve.
For SOL and the other cryptocurrencies that will be included in the U.S. crypto reserves, this announcement is significant.
During the next big rally, it might set the pace for the preferred coins that will absorb the majority of the incoming liquidity.
Solana Price Departs From Major Support Zone: ATH Soon?
When writing, SOL crypto was trading at $160.00 which has climbed by 10.67% in the last 24 hours. The market capitalization was $81.04 Billion and ranks 6th in the cryptocurrency market. The 24-hour trading volume has increased by 425% to $13.51 Billion.
Based on the technical chart, buyers have managed to defend the major support zone of $120. Furthermore, the SOL price has departed from this territory and reached the key moving averages.
Suppose the price holds over the 20-day EMA, buyers might show interest. Here, the involvement of buyers could boost the recent bullish momentum. Once the price starts trading over the 200-day EMA, a massive bull run can be experienced.
Conversely, if the Solana price fails to hold the 20-day EMA, buyers may bounce back again. Suppose the Solana price remains below the key moving averages, buyers might lose confidence. Here, most traders and investors prefer to book profit which may lead to strong selling pressure.
SOL Price Analysis Amid Crypto Reserve Announcement
Solana has demonstrated significant resilience and positive momentum in the cryptocurrency market, particularly highlighted by its recent price surge following a key support level at $120.
The anticipation of Solana being included in the U.S. crypto reserve, as indicated by President Trump’s administration, has acted as a catalyst for bullish sentiment.
If SOL can maintain its position above key moving averages, there is potential for a substantial rally ahead.
However, investors should remain cautious as failure to hold these levels could lead to profit booking and increased selling pressure.
Overall, Solana’s growth trajectory suggests a promising outlook in both stablecoin performance and total value locked (TVL) within the ecosystem.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
