Solana’s price is showing renewed momentum, trading near $89 after a recent bounce from the $82 support level. A key driver is the announcement that Europe’s largest asset manager, Amundi, plans to launch a fund on the Solana blockchain. Technical indicators and historical May performance data suggest a period of potential strength for the asset.
Solana price gained momentum this month due to recent institutional developments and positive technical indicators. At press time, SOL was trading at around $89 with an increase of nearly 3% over 24 hours.
According to data from TradingView, SOL found support near $82 before bouncing toward the $90-$92 range. The MACD indicator remains bullish, suggesting strengthening momentum for Solana price.
Market confidence was supported by a recent institutional update posted on the X platform. The post noted that Amundi and Spiko are set to launch a UCITS fund on Solana.
This news highlights the ongoing institutional adoption of Solana’s ecosystem for real-world asset infrastructure. It aligns with the recent increase in Solana price action, as such developments often improve overall market sentiment.
A monthly returns heatmap from Cryptorank shows strong historical May performance for Solana. In most bullish cycles, the asset has recorded gains of more than 30% during this month.
SOL is showing increasing strength and momentum, although key resistance levels will likely need to be tested. The cryptocurrency market remains a highly speculative and volatile environment.
