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<a href="https://www.thecoinrepublic.com/price-prediction/solana/">Solana (SOL)</a>&nbsp;is trading at $180.92, up 2.62%, amid its integration with Chainlink Data Streams. This integration provides Solana with low-latency, real-time data capabilities essential for high-frequency decentralized finance (DeFi) applications. Meanwhile, market sentiment is strong, with a bullish 0.99 Smart Money score. 
<h2 class="wp-block-heading" id="h-chainlink-integration-enhances-solana-s-defi-capabilities">Chainlink Integration Enhances Solana’s DeFi Capabilities</h2> 
Chainlink’s Data Streams integration on Solana provides low-latency, pull-based data access to&nbsp;<a href="https://www.thecoinrepublic.com/2024/10/25/kraken-set-to-launch-ink-blockchain-aims-to-disrupt-defi-in-2025/">DeFi</a>&nbsp;applications to increase transaction precision and functionality within Solana’s ecosystem. 
The integration outlines that Chainlink Data Streams will provide the ability to retrieve market data on demand, unlike typical push-based oracles, while ensuring data integrity with a cryptographic signature and without needlessly having on-chain updates. 
Solana developers are able to develop faster, more accurate financial products by the provision of access to real-time data and decentralized, fault-tolerant infrastructure for high-frequency consumers. 
<a href="https://www.thecoinrepublic.com/2024/10/24/will-chainlink-swift-partnership-propel-link-to-20/">Chainlink</a>&nbsp;will partner with GMX_SOL to bring new use cases on Solana with the pull-based Oracle model of Chainlink Data Streams, including perpetual futures, options, and prediction markets. 
Additionally, with liquidity-weighted pricing and up-to-the-second updates, developers can replicate their trading logic and advanced risk management in a decentralized environment, standing toe to toe with centralized exchanges in performance. 
Chainlink keeps Solana’s DeFi landscape robust with its dependable multi-site deployment setup; it also pumps up its capacity as the go-to high-performance blockchain for decentralized applications. 
<h2 class="wp-block-heading" id="h-solana-eyes-220-amid-breakout">Solana Eyes $220 Amid Breakout</h2> 
Recently, Solana broke out of an ascending triangle pattern, a bullish form of pattern where the price is making higher lows against a horizontal resistance level. 
The token is targeting $220 following a successful breakout and retest. This breakout pattern sends signals of strong upward momentum; if SOL breaks $190, the rally will be confirmed. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="497" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-1024x497.png" alt="Source: Tradingview" class="wp-image-800762" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-1024x497.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-300x146.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-768x373.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-1536x746.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-150x73.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-696x338.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1-1068x519.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-21-1.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source: Tradingview
 </figcaption>
</figure> 
Momentum indicators show bullish momentum for Solana; the Relative Strength Index is at 67 reflecting a strong buying strength that is close to the overbought territory of 70. 
Just as support of this trend is the Exponential Moving Averages (EMAs), with the 50-day EMA high above the 100-day EMA indicating upward momentum. 
In addition, the Money Flow Index (MFI) is over 82.4, which is a high sign for extremely high interest in purchasing, but the money flow overbought sign may mean a reversal or consolidation. If buying pressure continues, these upward indicators may lead even higher as this uptrend continues. 
<h2 class="wp-block-heading" id="h-mixed-sentiment-for-solana">Mixed Sentiment for Solana</h2> 
Market Prophit data on Solana market sentiment shows that the market has two sides, the retail trader and the experienced investor. The retail crowd sentiment is overall slightly bearish at -0.32 but still a bit cautious. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="747" height="615" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-22-1.png" alt="Source: X" class="wp-image-800767" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-22-1.png 747w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-22-1-300x247.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-22-1-150x123.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-22-1-696x573.png 696w" sizes="(max-width: 747px) 100vw, 747px">
 <figcaption class="wp-element-caption">
 Source: X
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</figure> 
However, the Smart Money sentiment is markedly bullish, with a positive 0.99, thus signaling that institutional investors and highly skilled traders have a much more optimistic future for Solana. 
<h2 class="wp-block-heading" id="h-funding-rate-hits-0-015-as-sol-climbs-to-180">Funding Rate Hits 0.015% as SOL Climbs to $180</h2> 
We have seen Solana’s price surge up from $168 to $180 over the past two days, along with an increase in the OI-weighted funding rate to 0.015%. 
OI Weighted Funding Rate is the cost of being long to being short in the perpetual futures contracts, with a positive number meaning that it’s expensive to be long compared to short. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="323" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-1024x323.png" alt="Source: Coinglass" class="wp-image-800772" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-1024x323.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-300x95.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-768x242.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-1536x485.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-150x47.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-696x220.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1-1068x337.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-23-1.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source: Coinglass
 </figcaption>
</figure> 
The positive funding rate reveals that there is a lot of keen demand; traders are willing to pay a premium to keep long positions, which is a strong indication of sustained bullish sentiment. 
The post <a href="https://www.thecoinrepublic.com/2024/10/29/chainlink-data-streams-integration-to-boost-solana-price-how/">Chainlink Data Streams Integration to Boost Solana Price: How?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Chainlink Data Streams Integration to Boost Solana Price: How?

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