Solana price tests $135 after weekly 14% jump
Solana’s broader ecosystem continues to expand
Solana (SOL) has shown strong bullish momentum in the past week, rising over 14% and currently trading at approximately $134 as of April 18, 2025.
This recent rally has pushed the price past the psychologically significant $120 resistance, which has now turned into a key support level. The market structure appears increasingly favorable for a continued upward move, though critical resistance levels still need to be cleared.
From a technical standpoint, Solana remains below its 50-day and 200-day simple moving averages (SMAs), which sit around $142 and $158 respectively. This positioning suggests that while the short-term price action is bullish, SOL is still working its way through a broader consolidation pattern. The RSI (Relative Strength Index) has rebounded from oversold territory and currently hovers near 35–40, implying that while the token is gaining strength, there is still room for further upside before entering overbought conditions.
SOL price dynamics (February 2025 - April 2025). Source: TradingView
The MACD (Moving Average Convergence Divergence) shows a slight bearish crossover, but the histogram is narrowing, hinting that a bullish reversal could be forming. If SOL can maintain its current upward pressure, the MACD could shift into a more bullish configuration in the coming sessions.
Whale accumulation and ecosystem growth
Market sentiment surrounding Solana has improved in tandem with its price action. One of the primary bullish catalysts is the visible accumulation by large holders. On-chain data confirms that "whale" wallets have been actively buying in the $125–$130 range, typically a strong vote of confidence in Solana’s medium-term potential. These wallet activities tend to precede larger price movements as they often represent smart money positioning ahead of trend changes.
Additionally, Solana’s broader ecosystem continues to expand. Development activity on Solana remains among the highest in the blockchain space, with notable growth in decentralized finance (DeFi) and non-fungible token (NFT) applications. The network has seen a resurgence in daily active addresses and developer contributions, further underlining its relevance in the crypto infrastructure space.
Institutional interest is another supporting pillar. The recent launch of Solana-based exchange-traded funds (ETFs) in Canada marks a significant milestone, enabling traditional investors to gain exposure to SOL without directly holding the asset. This development is expected to create more stable demand over time and reduce volatility.
Potential breakout toward $145 and beyond
Considering current technical setups, market sentiment, and whale activity, the near-term outlook for Solana appears optimistic. The next significant resistance at $145 is now within reach. A successful break above this level, supported by rising volume and improving MACD momentum, would open the door to a quick rally toward the $160–$175 range, with $205 as the next medium-term target.
Conversely, if Solana fails to break above $145 and loses the $120 support level, the price may revisit the $95 range. A failure below $95 would trigger a bearish continuation pattern, possibly dragging prices back toward the critical $65–$70 accumulation zone seen in late 2024.
The crypto market faces renewed pressure amid geopolitical tensions, inflation concerns, and potential Fed tightening, leading to cautious sentiment toward high-beta assets like Solana. Meanwhile, Solana’s dominance is challenged by rising competition from newer blockchains such as Sui and Aptos, alongside lingering concerns over its network reliability.
