TLDR
- Solana jumped 10.02% to $160.32 on May 8, its highest level since March 3
- DeFi volumes on Solana network broke $800 billion in 2025
- Tracy Jin of MEXC predicts SOL could reach $180-$200
- Solana is recovering after a 30% dip and classic “fakeout” pattern
- Analysts forecast potential surge past all-time high to $329.94 by end of 2025
Solana’s price has seen a major rally, with experts predicting a breakout to the $180-$200 range. On Thursday, May 8, SOL jumped 10.02% to $160.32, marking its highest level since March 3.
This price surge comes alongside growing activity in Solana’s ecosystem. On Wednesday, May 7, decentralized finance (DeFi) volumes on the Solana network broke $800 billion in 2025. While January accounted for over half of that volume, the continued strength in recent months points to sustained investor interest.
According to Tracy Jin, COO of MEXC, the price action for Solana shows a wide accumulation range often seen in assets transitioning from growth to maturity. Bulls are now looking at a breakout above the key $153.00 resistance level.
“If this level flips into support and momentum persists, this could open the path towards $180 and potentially $200 soon after,” Jin told crypto.news.
As of May 9, Solana is trading at $149.76, rising 2.14% over the previous 24 hours. Trading volume has increased to $4.55 billion, representing growth of 53.61%.
Technical analyst AndrewGriUK has pointed out what he calls a textbook “fakeout” in SOL’s recent price action. In the last 25 days, Solana fell by 30%, breaking beneath a key horizontal support area.
#SOL Solana – CRYPTO:SOLUSD just pulled a classic fakeout! (Check chart above for in-depth analysis👆🏻) In the last 25 days, SOL plummeted -30%, shaking out many bulls before staging a full comeback. With strong horizontal support, bullish momentum is back, presenting fresh… pic.twitter.com/c14gBUe7Xw
— Andrew Griffiths (@AndrewGriUK) May 7, 2025
This drop likely triggered stop-losses and discouraged retail investors before reversing sharply. The current rally has been marked by heavy volume and a clean breakout over resistance levels, which suggests a new upward trend.
Solana $SOL chart looking strong…
Price tapped $164 in the overnight, approaching a major level of resistance at $170
The daily chart shows a breakout from a bull flag targetting $210🚀 pic.twitter.com/YvFqhRj6ef
— Trader Edge (@Pro_Trader_Edge) May 9, 2025
The Changing Perception of Solana
Jin believes there is a “fundamental shift” in how markets now view Solana. The growth of its ecosystem, together with Ethereum’s relative weakness, is attracting institutions to SOL.
“Ethereum ETFs have bled more than $350 million year-to-date. Solana has been the dominant network among L1 and L2 chains in 2025, driven by the rise of platforms like Pump.fun, radium, and Axiom,” said Jin.
The upcoming launches of Solana ETFs will likely boost its appeal to institutional investors. These investors are drawn to the value that the Solana network is creating through its DeFi ecosystem.
With fresh momentum, traders are now focusing on the $120 and $250 levels as key points to monitor. The former represents confirmation of support, while the latter aligns with longer-term resistance levels.
Looking ahead, market analysts are optimistic about Solana’s prospects for 2025. Some predict Solana could break past its current all-time high of $294.33 and reach $329.94 by the end of 2025.
This price action is linked to broader industry trends, especially the expansion of blockchain technology in financial services. Solana is well-positioned due to its efficient and affordable transactions.
Robinhood is examining blockchain infrastructure to help European retail investors trade tokenized US equities. The company is considering both Arbitrum and Solana for this purpose, according to sources at Bloomberg.
If Solana is selected for this role, it could further cement its position at the center of the emerging financial ecosystem. The recent price surge to $160.32 on May 8 marks a key milestone in this journey.
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