Solana price surged after rebounding from $120, validating a falling wedge breakout and confirming renewed bullish strength on the weekly chart.
Trading at $160.97, Solana posted 9.10% daily and 7.16% weekly gains, supported by over $7.75 billion in 24-hour trading volume.
Solana led Q1 2025 in blockchain revenue, surpassing Ethereum, driven by its high-speed capacity and ultra-low fees across the network.
Solana (SOL) rebounded sharply from the $120 support zone this week, confirming a falling wedge breakout on the weekly chart. This move marks a potential shift in momentum as bullish pressure begins to build.
$SOL Solana Weekly Update Signals Strong Bullish Continuation
According to @VipRoseTr, Solana’s recent price action confirms a decisive bounce from the $120 support level. This area has acted as a key pivot in previous cycles. The price recovery completes a falling wedge pattern—commonly seen as a bullish reversal indicator in technical analysis.
The breakout positions SOL for further upside if it can sustain this momentum. Current targets are set at $222.90 and $316.01. A move toward these levels is possible, provided price remains above the $120 mark. Any decline below this zone could invalidate the breakout structure and pause further upward movement.
SOL is priced at $160.97as of writing, reflecting a 9.10% gain over the last 24 hours and a 7.16% increase across the past week. Trading volume stands at $7.75 billion, signaling strong engagement and market participation.
Falling Wedge Breakout Holds as Long as $120 Support Remains
The confirmed breakout from the falling wedge suggests that selling pressure has weakened. For traders, the $120 zone is now a clear line in the sand. Holding this support keeps bullish momentum intact and maintains the path toward the next resistance levels.
Market attention is turning to the $180 mark, which may act as the next decision point. A close above this level could further validate the bullish structure and push SOL closer to $222.90. Consistent volume and price support may drive additional interest in the near term.
The recovery has emerged during a period of stable sentiment in the broader market. Solana’s reaction at support, followed by strong upward movement, reflects renewed buyer interest and aligns with technical projections.
Solana Leads Q1 Blockchain Revenue Rankings
@ChristiaanDefi reported that Solana led all blockchains in network revenue for Q1 2025, surpassing Ethereum. The blockchain's capacity of 65,000 transactions per second and low transaction fees contributed to this performance.
This milestone strengthens Solana’s position among top blockchain platforms. Increased usage across applications and consistent revenue growth reflects sustained activity within the ecosystem. Developers and users are leveraging the network’s speed and cost-efficiency, adding to its ongoing appeal.
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