Solana (SOL) has emerged as an exception within the uncertain cryptocurrency market, maintaining its upward momentum despite widespread investor caution and economic volatility caused by recent U.S. tariff announcements. Over the past ten days, SOL has shown resilience, indicating that it may soon break free from recent price stagnation.
Currently trading at approximately $138.75, SOL shifted from its previous downward trajectory on March 10 and has remained stable near $135, a pivotal support level. The cryptocurrency’s performance reveals an impressive 20% gain over the past week and nearly 8% in the last month, highlighting its strength amidst broader market difficulties.
Technical analysis points toward sustained bullish momentum for Solana in the near term. Notably, the Relative Strength Index (RSI) is trending upwards, currently at around 56, accompanied by positive signals from the MACD indicator, both suggesting potential price appreciation. Analysts forecast that SOL could soon gain approximately 13.3%, critically testing resistance at the $152.90 price level. Successfully turning this key resistance into a support could set the stage for further gains toward $180, a stubborn barrier that SOL encountered frequently through March and early April 2025.
On-chain metrics underscore Solana’s stable growth. According to the latest data, SOL has led other blockchain networks such as Ethereum and Base in various aspects, including active addresses, decentralized exchange (DEX) trading volume, and overall transaction count. In the past seven days alone, Solana recorded over 4 million active addresses, $5.48 billion in DEX volume, and 52 million transactions, clearly surpassing Ethereum and Base significantly. Additionally, Nansen reports indicate robust growth in fee generation on the Solana network, affirming its market position.
Social sentiment surrounding Solana has improved markedly, further supporting potential price rallies. Over the past few days, social dominance has surged noticeably, accompanied by a substantial increase in open interest—indicating traders are increasingly taking positions on SOL and are optimistic about its direction.
Comparative analysis of a wider crypto market confirms Solana’s outperformance. Grayscale data places SOL as the top-performing cryptocurrency in the previous week, recording gains of 10.5% despite the coin’s challenging 2025 performance—with a cumulative negative year-to-date return of over 30%. The network’s revenue also reinforces this outperformance; Solana secured $819 million in revenue for Q1 of 2025, significantly ahead of competing layer 1 and layer 2 networks such as Ethereum, TRON, and Bitcoin.
Two specific factors are poised to help drive continued growth for Solana. First, Coinbase recently announced substantial platform upgrades to significantly improve Solana transaction throughput and reliability, signaling ongoing institutional support. Second, the ongoing progress in filings for a Solana-focused ETF could become a potent catalyst if approved by the SEC, providing fresh investor interest and a potentially powerful price catalyst in the second quarter of the year.
Overall, despite continued volatility and challenging macroeconomic conditions, Solana maintains substantial momentum and strong network fundamentals—an optimistic signal for investors closely watching the next potential price breakout.
