Solana experienced a near 5% price increase on Friday after facing nearly a 10% drop over the past week. Right now, indications suggest Solana may recover toward its next target at $165, representing a potential 13% gain within the coming week. As Ethereum continues to attract institutional investors, Solana positions itself competitively through strategic partnerships and successful decentralized applications on its blockchain.
According to daily price chart analytics for SOL/USDT, signals indicate Solana is approaching a possible trend reversal. Currently trading close to $150, the token’s first key upside boundary would be around the $170 resistance mark, a critical level defined by a Fair Value Gap (FVG). Surpassing $170 could clear the path toward two significant resistances—the psychological barrier at $200 and the next technical resistance at around $218.40.
Technical indicators appear cautiously optimistic. The Relative Strength Index (RSI) stands at 39 and is trending upwards. Concurrently, the MACD, while still negative, shows potential recovery signs beneath the zero line. Notably, the On-Balance Volume (OBV) indicator presents a bullish divergence—indicating price could soon reverse higher even after recent declines.
On the downside, immediate support sits near $143.25—the lower boundary of another identified FVG on the daily timeframe chart.
Several factors support a bullish outlook for Solana in the short term. Bybit recently announced its partnership with industry majors Circle, Tether, Solana, and Sui to create a blockchain-based education initiative called Ecopedia, aimed at promoting accessible and structured crypto knowledge.
Meanwhile, Solana’s meme coin segment has witnessed significant selling pressure resulting from heightened market anxiety driven by public disagreement between U.S. President Donald Trump and Tesla CEO Elon Musk. Over the previous 24 hours, the overall capitalization of Solana meme coins slid approximately 5%, pushing total market value close to the $10 billion level. Traders anticipate that recovery might follow calm after current uncertainties dissipate.
Statistics continue to suggest greater on-chain Solana usage. Transaction activity on its blockchain network has steadily grown in recent weeks. In derivatives markets, data collected over the past 24 hours reveals around $40 million worth of long positions on Solana liquidated, alongside a modest $5 million in shorts. Interestingly, options volumes have climbed dramatically, increasing by almost 50%, even as open interest declined approximately 7%. Exchange long-to-short positioning ratios demonstrate increased optimism from investors betting on Solana price recovery.
The ongoing Trump-Musk public conflict has broadly affected market sentiment, impacting equities, Bitcoin prices, and driving cautious sentiment in crypto markets. Solana fell alongside broader altcoin declines, yet showed signs of tentative stabilization following Friday’s moderate recovery.
Meanwhile, industry analysts at Standard Chartered offered critical commentary, calling Solana’s blockchain a “one-trick pony” heavily reliant on meme coin activity to sustain its valuation. Despite noting meme coins’ strong past performance and scalability tests, the analysts advised diversification into different segments in 2025, such as stablecoins and decentralized finance (DeFi), to expand the blockchain’s long-term utility.
As of now, Solana’s price hovers around $150. Depending on how market conditions evolve through the coming days—with support at $141 and resistance marked near $187—determining the direction and potential strength of its next major price movement remains an ongoing focus for traders.
