Cryptocurrency Solana (SOL) was one of the leading cryptocurrencies last week despite initially seeing limited movement.
The cryptocurrency started the week below the critical $150 threshold and struggled to show strength amid bearish sentiment in the broader market.
After bitcoin (BTC) rose significantly by 7.52% in response to the release of U.S. Consumer Price Index data on May 15, the broader market saw an impressive uptrend. Solana capitalized on this momentum, achieving a rise of 11.61%. It eventually broke above the upper Bollinger Band resistance on the daily chart.
When the Robinhood trading platform launched a betting program on Solana in Europe, the coin closed at $158 on May 15, looking for a more substantial rise within the existing uptrend.
From May 16 to 18, the asset recorded three consecutive intraday gains, breaking the coveted $170 mark and retesting the monthly high of $176. Solana closed last week with a 21 percent gain, making it one of the best-performing assets during that period.
