Miami, Florida — Solana (SOL) price don extend gains by nearly 4% on Monday, dey trade above $138, after dem recover 5.32% last week. E be say White House dey narrow their plan on tariffs wey go start on April 2, likely dropping some industry-specific tariffs. Dis news dey inspire investor confidence for risky assets like Solana.
A Wall Street Journal report on Monday talk say President Trump don declare April 2 as so-called “Liberation Day” for the U.S., wey go involve reciprocal tariffs wey go balance U.S. tariffs with what trading partners dey charge. These tariffs fit touch industries like automobiles, pharmaceuticals, and semiconductors. However, reports show say sector-specific tariffs fit not go announce on that date, according to one White House official.
The news create positive vibes for crypto market as major cryptocurrencies don rise, with total market capitalization breaking above $87,000. Solana follow the trend, rallying sharply during Asia trading session, trading 4% higher by the time of press.
Also, Trump post on Truth Social dey support the $TRUMP memecoin on Solana, as im tweet: “I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!” Dis endorsement led to a spike in Trump memecoin, going up nearly 17% to hit $12.51, but e still dey down 85% from the all-time high of $77.24.
Meanwhile, SOL price for Sunday break above a descending trendline and rally by 3.37%. If e continue this upward trend, analysts dey predict SOL fit reach as high as $160. The Relative Strength Index (RSI) don come up from oversold levels, nearing neutral territory, while the Moving Average Convergence Divergence (MACD) indicator show bullish crossover, signaling potential for rally ahead.
However, if the price fall below the daily support level at $118.10, e fit decline to test the March 11 low of $112. Dem dey watch these technical indicators closely as SOL traders look for signs of a stronger market.
In another development, Cronos (CRO) token for Crypto.com don extend gan by 17%, dey trade around $0.11 on Monday after surging nearly 18% the previous day. dYdX (DYDX) price hover around $0.72 after gaining nearly 8% following the announcement of the first-ever buyback program for the protocol.
Trump Media and Technology Group (TMTG) also drop announcement say their fintech section, Truth.Fi, don sign one non-binding agreement with Crypto.com to launch multiple exchange-traded funds (ETFs). Even Binance Coin (BNB) experience a 3% gain on Monday, crossing the $635 mark as trading volumes increase, signaling renewed interest.
Bitcoin price dey stabilize around $84,000, recovering nearly 2% this week. The U.S. SEC announcement say mining rewards no be securities fit also boost confidence among Bitcoin investors. According to analysts, improvement in Solana’s onchain and derivatives metrics dey show a possible SOL price rally to $170, making it a focal point for traders.
As crypto market dey react to these changes, e remain crucial for investors to keep eye on technical indicators, government policies on tariffs, and market sentiment, to make informed investment decisions, especially for Solana and its associated projects.
