TLDR
- Solana (SOL) price is trading above $130 with a bullish trend, recently forming a high at $143.06
- Technical indicators show SOL’s MACD gaining pace in the bullish zone with RSI above 50
- Cryptocurrency expert CryptoCurb predicts SOL could reach $2,000, which would give it a $1 trillion market cap
- Solana has the highest number of active addresses (28.4 million) and transactions (369 million) over the last seven days
- Canada recently launched the first SOL ETF with prices projected to surpass $250
Solana (SOL) has been showing strong upward momentum in recent trading sessions, climbing above the $140 mark as network metrics and adoption continue to improve. The cryptocurrency has gained over 5% recently and is now trading above both $130 and the 100-hourly simple moving average, potentially setting up for further gains.
SOL price started a fresh increase from the $120 support zone, successfully breaking through resistance levels at $125 and $132. The price even approached the $145 resistance zone, forming a high at $143.06 before a slight pullback occurred.
Technical indicators currently favor bulls, with the hourly MACD gaining pace in the bullish zone and the Relative Strength Index (RSI) positioned above the 50 level. A connecting bullish trend line has formed with support at $137 on the hourly chart.
Network Performance Drives Value
Behind Solana’s price movement is an impressive set of network metrics. Over the past seven days, Solana has recorded the highest number of active addresses at 28.4 million, leading other major blockchain networks. The network also processed 369 million transactions during this period, outperforming competitors like Tron, BNB Chain, Base, and Bitcoin.
These performance figures highlight Solana’s growing utility in various Web3 applications, driven by its speed, low transaction costs, and scalability. The network has become increasingly attractive to developers and users looking for efficient blockchain solutions.
The 24-hour trading volume for SOL has increased by 36%, showing growing interest from traders and investors. This comes as open interest in SOL derivatives crossed 5.5 billion, climbing by 10% amid increased whale activity in the ecosystem.
Expert Predictions and Support Levels
Some market analysts have extremely bullish outlooks for Solana. Cryptocurrency expert CryptoCurb recently stated that a Solana price of $2,000 is “absolutely realistic” given current fundamentals and on-chain indicators. This would translate to a $1 trillion market capitalization, potentially allowing Solana to overtake Ethereum as the largest altcoin.
“How does Solana get to $2k”
$2k $SOL = $1T market cap
ETH ran to $0.6T market cap last cycle.
ETH was also UNUSABLE (>$500 transaction fees) at >$100B mc.
$2k is absolutely realistic IF solana keeps its global adoption pace with minimal disruptions/continues to scale. https://t.co/gMyIDZqpp4
— curb (@CryptoCurb) April 20, 2025
CryptoCurb compared Solana’s potential to Ethereum’s previous bull cycle performance, noting that “2K is absolutely realistic if Solana keeps its global adoption pace with minimal disruptions and continues to scale.”
For the short term, SOL faces resistance near the $142 level, with the next major resistance around $145. Breaking above $150 could set the pace for another steady increase, with subsequent targets at $155 and $165.
On the downside, initial support exists near $138.50, with major support levels at $137 and $132. Should the price drop below $132, it might decline toward the $125 support zone.
Institutional Interest Growing
In a development that could boost market confidence, Canada recently launched the first SOL ETF. Some market observers project prices could surpass $250 following this institutional validation, potentially reversing a forming death cross pattern in the charts.
The launch of regulated investment products like ETFs typically signals growing mainstream acceptance and can attract new capital from institutional investors who previously couldn’t access the asset directly.
As Solana continues to compete in the smart contract platform space, its technical performance metrics remain key differentiators. The network’s ability to process transactions quickly and at low cost has made it popular for applications ranging from decentralized finance to NFTs and gaming.
While the cryptocurrency market remains volatile, Solana’s recent price action and network statistics suggest growing user adoption and developer activity on the platform. These fundamentals could support further price appreciation if market sentiment remains positive.
Whether Solana can reach the lofty price targets set by some analysts remains to be seen, but the current technical setup suggests potential for continued upward movement in the near term, particularly if it can clear the $142 and $145 resistance zones.
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