Solana (SOL) has made quite a recovery over the last month. The asset’s price fell to sub-$100 levels during the recent market crash. Fortunately, SOL’s price has rallied 18% in the past 30 days, and is up over 6% on Thursday alone. At press time, the Solana cryptocurrency is trading at the $150 price level and is looking to break out.
Solana (SOL) has emerged as one of the most resilient cryptocurrency projects in the market. The asset’s price fell to below $10 after FTX’s collapse in 2022. Since its 2022 lows, SOL’s price has hit multiple new all-time highs. The asset hit its latest peak earlier this year on Jan. 19. SOL’s latest rally comes amid a market-wide recovery. The crypto market faced a substantial price crash after US President Donald Trump’s tariff spree. The markets have significantly rallied after Trump’s 90-day tariff pause.
Solana is currently riding a wave of bullish momentum across its ecosystem. Its stablecoin market capitalization has surged since February, recently surpassing $13.07 billion. This signals growing trust and liquidity flowing into the network. SOL’s rally also comes amid a new pro-Bitcoin head, Paul Atkins, being appointed to the SEC. Many anticipate that Atkins will take a more relaxed approach to the crypto sector. The newly revamped SEC could also decide on a Solana SOL ETF in the coming months, which would accelerate a Solana surge to $185 and beyond.
According to CoinCodex, Solana (SOL) will move in a sideways trajectory over the coming weeks. Indeed, the coin prediction site is bearish on SOL, suggesting the coin will dip come May. “According to our current Solana price prediction, the price of Solana is predicted to drop by -7.35% and reach $ 140.99 by May 30, 2025,” the CC analysts say. “Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 53 (Neutral).”
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With $SOL holding above the $145 support and currently trading at $148, investors are eyeing the next major price level. Other analysts point to a cup-and-handle formation on the weekly chart, with a break above the $155 resistance potentially opening the door to that $180 rally. Furthermore, $SOL futures open interest hit $5.75 billion on Wednesday, suggesting the next target could stretch to $200 even before any ETF approval.