Solana (SOL) has continued its impressive rally, recently reaching a 2-month high of $178.33. The cryptocurrency is currently trading around $174.59, up 47% over the past month and 20% in the last week alone.
This surge comes as Solana benefits from a mix of technical breakouts, rising DeFi activity, and improving market sentiment.
One of the primary drivers of Solana’s recent surge is its growing influence in the decentralized finance (DeFi) sector.
According to DefiLlama, Solana recorded $3.32 billion in 24-hour decentralized exchange (DEX) volume, capturing nearly 29% of the entire DEX market.
This highlights Solana’s scalability and speed, making it an increasingly attractive choice for traders and developers.
Moreover, Solana has seen over $165 million in cross-chain inflows in the past month, with significant funds coming from Ethereum ($80.4 million), Arbitrum ($44 million), Base ($20 million), and smaller amounts from BNB Chain and Sonic.
These inflows underscore the growing confidence in Solana as a preferred network for DeFi and cross-chain transactions.
Key DeFi Metrics:
Major inflows from Ethereum and Arbitrum $3.32 billion in 24-hour DEX volume (29% market share) $165 million bridged from other chainsSolana price prediction remains bullish as SOL recently cleared its 200-day exponential moving average (EMA) and the key 1.618 Fibonacci extension at $167.39, confirming a strong bullish reversal.
The price has also formed a “three white soldiers” pattern, a classic bullish signal, indicating sustained buying interest.
Immediate resistance now stands at $178.33, with further targets at $183.95 and $189.60 if the momentum continues.
However, the MACD is showing early signs of divergence, suggesting that bullish momentum might be cooling.
Traders should watch for a potential pullback to the $167.39 support zone, which aligns closely with the 50-day EMA at $165.66.
Technical Levels to Watch:
Next Support: $157.15 Immediate Resistance: $178.33 Next Resistance: $183.95 Next Resistance: $189.60 Immediate Support: $167.39 Next Support: $164.01Thus, the decisive break and hold above this level could pave the way for further upside in the coming weeks or months, echoing the setup of previous major rallies.
The broader market sentiment is also supporting Solana’s rise. President Trump’s recent comments about progress in US-China trade talks have eased global market fears, boosting risk appetite across asset classes.
This improved sentiment has helped push the global crypto market cap to $3.33 trillion, providing a favorable backdrop for high-beta assets like Solana.
Key Macro Highlights:
Positive risk sentiment benefiting altcoins Easing US-China trade tensions Global crypto market cap at $3.33 trillionSolana’s strong technical setup, coupled with rising DeFi activity and macroeconomic tailwinds, suggests that a move toward $200 is possible in the coming weeks.
However, traders should be cautious of potential pullbacks as the MACD signals possible weakening momentum.
A break above the $178.33 resistance could set the stage for a push to $200, while a drop below $167.39 could signal a short-term correction.
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