What to expect from the price of Solana (SOL) in May 2025?
Solana is in the "Hope" zone on the NUPL indicator, signaling potential for price increases as it moves towards the "Optimism" zone.
Institutional interest, including approvals for the first spot ETF of SOL in Canada, is increasing confidence in Solana's future growth.
Solana has risen by 41% in May, with $180 as the next significant resistance; breaking this could push SOL to $221.
Solana has been making a concerted effort to recover from the losses it faced over the last three months. Recently, the altcoin has been gaining traction, aided by Long-Term Holders (LTH) who have joined the rally.
This support will likely help solidify Solana's path toward a full recovery in the coming month.
