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Solana started a fresh increase from the $140 support zone. SOL price is now 
consolidating and might climb further above the $154 resistance zone. SOL 
price started a fresh increase above the $142 and $145 levels against the US 
Dollar. The price is now trading above $150 and the 100-hourly simple moving 
average. There was a break above a key bearish trend line with resistance at 
$149 on the hourly chart of the SOL/USD pair (data source from Kraken). The 
pair could start a fresh increase if it clears the $154 resistance zone. 
Solana Price Consolidates Gains Solana price formed a base above the $140 
support and started a fresh increase, like Bitcoin and Ethereum. SOL gained 
pace for a move above the $142 and $145 resistance levels. There was a break 
above a key bearish trend line with resistance at $149 on the hourly chart of 
the SOL/USD pair. The pair even spiked above the $150 resistance zone. A high 
was formed at $153.90 and the price is now consolidating gains. The price 
dipped below $152 and tested the 23.6% Fib retracement level of the upward 
move from the $140 swing low to the $154 high. Solana is now trading above 
$150 and the 100-hourly simple moving average. On the upside, the price is 
facing resistance near the $152 level. The next major resistance is near the 
$154 level. The main resistance could be $158. A successful close above the 
$158 resistance zone could set the pace for another steady increase. The next 
key resistance is $165. Any more gains might send the price toward the $180 
level. Downside Correction in SOL? If SOL fails to rise above the $154 
resistance, it could start another decline. Initial support on the downside is 
near the $150 zone. The first major support is near the $147 level. A break 
below the $147 level might send the price toward the $145 zone and the 50% Fib 
retracement level of the upward move from the $140 swing low to the $154 high. 
If there is a close below the $145 support, the price could decline toward the 
$140 support in the near term. Technical Indicators Hourly MACD – The MACD for 
SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative 
Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support 
Levels – $147 and $145. Major Resistance Levels – $154 and $158.

Solana (SOL) Over $150 — More Upside on The Horizon?

The US Treasury Department wants to block the Cambodia-based Huione Group from 
accessing the US banking system, accusing it of helping North Korea&#8217;s state- 
backed Lazarus Group to launder its crypto.
The Treasury&#8217;s Financial Crimes Enforcement Network (FinCEN) proposed on May 1 
to prohibit US financial institutions from opening or maintaining 
correspondent or payable-through accounts for or on behalf of the Huione 
Group.
Huione Group has established itself as the &#8220;marketplace of choice for 
malicious cyber actors&#8221; like the Lazarus Group, who have &#8220;stolen billions of 
dollars from everyday Americans,&#8221; US Treasury Secretary Scott Bessent said in 
a May 1 statement.
&gt; &#8220;Today&#8217;s proposed action will sever Huione Group&#8217;s access to correspondent 
&gt; banking, degrading these groups&#8217; ability to launder their ill-gotten gains.&#8221;
Huione Group has set up a network of businesses, which includes payment 
service platform Huione Pay PLC, the crypto exchange Huione Crypto, and 
Haowang Guarantee, an online marketplace offering illicit goods and services.
Although the conglomerate doesn&#8217;t have correspondent accounts with US 
financial institutions, it has accounts with foreign firms with US 
correspondent accounts, the Treasury&#8217;s FinCEN noted in its rulemaking 
submission.
The proposed rule is subject to a 30-day public comment period before it can 
take effect. 
_Source:__Chainalysis_ 
## Huione expanded into sophisticated cybercrime network
FinCEN claimed that Huione Group has laundered at least $4 billion worth of 
illicit proceeds between August 2021 and January 2025, including more than $36 
million from crypto pig butchering scams.
At least $37 million worth of the crypto laundered has been linked to North 
Korea&#8217;s &#8220;cyber heists,&#8221; the Treasury said.
Haowang Guarantee has made Huione Group a &#8220;one stop shop&#8221; for criminals to 
launder crypto obtained through illicit activities, and ultimately convert it 
to fiat currency, the Treasury said.
_**Related:**__**North Korean crypto attacks rising in sophistication, actors 
&#8212; Paradigm**_
The conglomerate has also created a US dollar-pegged stablecoin, the US Dollar 
Huione (USDH), which FinCEN said cannot be frozen and helps to carry out money 
laundering activities.
The National Bank of Cambodia has stated that payment firms aren&#8217;t allowed to 
deal or trade digital assets in the country and had revoked the company&#8217;s 
local banking license in March.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_

US Treasury wants to cut off Huione over ties to crypto crime

According to a recent CryptoQuant Quicktake post, Bitcoin (BTC) could be 
preparing for its next major move. Contributor Crypto Dan highlighted that BTC 
is currently forming an accumulation pattern similar to those observed in 2024 
&#8211; patterns that were followed by significant rallies. Bitcoin Showing Signs Of 
Big Rally Bitcoin has surged over 13% in the past week, signaling renewed 
optimism in the digital assets market. This momentum comes amid easing global 
tariff-related tensions, which had previously created headwinds for risk-on 
assets. Alongside Bitcoin’s rise, the total cryptocurrency market 
capitalization has increased substantially &#8211; from approximately $2.5 trillion 
on April 8 to over $3.1 trillion at the time of writing. Related Reading: 
Bitcoin Surpasses Realized Price Of Recent Buyers — Rally Incoming Or Double 
Top? Adding to the positive sentiment is BTC’s evolving technical structure. 
In a recent analysis, CryptoQuant contributor outlined how BTC is forming an 
accumulation pattern that preceded major price rallies in 2024. The 
contributor shared the following chart, stating that BTC’s current movement 
appears to be mirroring that from January and October 2024. On both the 
instances, BTC entered a significant uptrend that was powered by a sharp 
increase in the activity of short-term holders. By &#8220;short-term holders,&#8221; the 
analyst refers to investors who typically hold BTC for one day to one week. In 
previous cycles, a sudden increase in activity from this group was followed by 
strong rallies &#8211; not only in BTC, but also across major altcoins. The analyst 
explained: Notably, this indicator has historically moved ahead of major price 
surges, making it a reliable signal of accumulation. If this trend continues 
in the short term, Bitcoin may be on track to break above $100K and enter a 
strong upward phase. Meanwhile, prominent crypto analyst Ali Martinez 
identified $97,530 as the next major resistance level. Martinez emphasized 
that surpassing this price point could clear the path for Bitcoin to reach new 
all-time highs (ATH). Despite The Momentum, Concerns Persist Despite growing 
optimism, not all indicators support an immediate breakout. Some analysts 
caution that Bitcoin still faces obstacles. Notably, the 30-day Demand 
Momentum remains in negative territory &#8211; suggesting that recent bullish 
sentiment may not be fully sustainable yet. Related Reading: Bitcoin Battles 
Key Resistance Level – Is A Breakdown Imminent? Additionally, on-chain metrics 
reveal that a truly parabolic move could take more time. CryptoQuant 
contributor Carmelo Aleman observed that while BTC reserves on exchanges 
continue to decline, indicating long-term holder confidence, there may not yet 
be enough pressure to trigger a full-blown supply shock. That said, one 
positive signal is a recent sharp rebound in Bitcoin’s Apparent Demand, which 
could indicate the early stages of a trend reversal. As of press time, Bitcoin 
is trading at $96,370, up 1.9% over the last 24 hours. Featured image from 
Unsplash, charts from CryptoQuant, X, and Tradingview.com

Bitcoin Flashing Pre-Rally Signals Seen Before Major 2024 Breakouts, Analyst Says

Visa goes global with stablecoin card rollout, enabling crypto spending at 
over 150 million merchants. Visa Makes Stablecoin Payments Seamless at 150M 
Stores Visa and Bridge launched a stablecoin-linked card that enables 
consumers to use digital assets for everyday purchases on Tuesday. The card 
allows payments in stablecoins at more than 150 million global merchant […]

Visa Integrates Stablecoins Into 150 Million Merchant Network

The US Securities and Exchange Commission has filed to drop another of its 
crypto lawsuits, this time its unregistered securities sales case against 
crypto influencer and YouTuber Ian Balina.
The SEC said in a May 1 joint stipulation with Balina to an Austin federal 
court that it &#8220;believes the dismissal of this case is appropriate,&#8221; citing the 
work of the agency&#8217;s Crypto Task Force.
The agency didn&#8217;t give a reason for wanting to dismiss its case, but said its 
decision &#8220;does not necessarily reflect the Commission&#8217;s position on any other 
case.&#8221;
Balina told Cointelegraph in March that the SEC had informed him it would 
recommend the court dismiss the case and claimed the agency&#8217;s actions were 
based on a shift in the agency&#8217;s priorities.
&#8220;Obviously, the new administration is pro-crypto,&#8221; Balina said. The SEC has 
seen a change in leadership under US President Donald Trump, who appointed 
former crypto lobbyist Paul Atkins to chair the agency.
The joint stipulation argued a dismissal would also conserve the court&#8217;s 
resources &#8220;without costs or fees to either party.&#8221;
Balina is the CEO of Token Metrics, a crypto influencer with 140,000 followers 
on X, and a YouTuber who the SEC accused of improperly promoting crypto 
projects, particularly during the initial coin offering (ICO) boom circa 2017.
The SEC sued Balina in 2022, alleging that he conducted an unregistered 
securities offering of Sparkster (SPRK) tokens when he formed an investing 
pool on Telegram in 2018.
The SEC claimed that US-based investors participated in Balina&#8217;s investing 
pool, using Ether (ETH), which was validated by a network of nodes &#8220;which are 
clustered more densely in the United States than in any other country.&#8221;
_**Related:**__**SEC drops investigation into PayPal &#8216;s stablecoin**_
The court sided with the SEC and, in May 2024, ruled that SPRK was an 
investment contract under US securities laws, where investors pooled money 
into a common enterprise expecting profits due to the efforts of others.
_Edit the caption here or remove the text_
## Shift in crypto policy
The move is the latest in a long list of crypto-related court actions that the 
SEC has quashed under the Trump administration&#8217;s favorable stance toward the 
industry.
Over the past month, it has dropped several cases and abandoned multiple 
investigations against crypto firms, including against Coinbase, Ripple, 
Kraken, Opensea, and PayPal&#8217;s stablecoin.
_**Magazine:**__**Japanese porn star &#8216;s coin red flags, Alibaba-linked L2 runs 
at 100K TPS: Asia Express**_