Solana (SOL) is once again gaining significant momentum both on-chain and in price dynamics. The network is approaching a significant milestone of 400 billion total transactions. Over the past seven days, SOL has risen by more than 12% and reclaimed the $150 level for the first time since early March.
Since its cycle low of $9.98 in January 2023, Solana has risen by over 1400%, supported by increasing adoption within its ecosystem. With bullish technical signals, thriving applications like PumpFun and Jito, and discussions of a potential surge to $500 by 2025, Solana is re-establishing itself as one of the top performers in the market.
The Solana network is nearing 400 billion transactions.
Solana is approaching a significant milestone. It has less than 2 billion transactions remaining to reach the 400 billion mark.
This comes amid SOL's price gaining new momentum, rising over 12% in the past week and exceeding $150 for the first time since March 2, with DEX trading volume reaching nearly $16 billion in the last seven days, more than any other chain. Since hitting a low of $9.98 on January 1, 2023, Solana has risen an incredible 1412%, becoming one of the best performers of the current cycle.
However, it is not just price dynamics — this cycle has also brought explosive adoption within the Solana ecosystem. Applications like PumpFun, launched just last year, quickly became some of the most profitable in the crypto industry.
Meanwhile, major protocols like Raydium, Meteora, and Jito continue to generate millions of dollars in monthly fees, highlighting the growing utility and economic strength of the network.
The Relative Strength Index for Solana is declining, but bullish momentum is being maintained.
The Relative Strength Index (RSI) for Solana is currently at 64.51, cooling down from a recent high of 77 just a day ago. It is important to note that it recovered after an intraday dip to 58.64, signaling a potential shift in short-term momentum.
These fluctuations indicate that while the recent rally may have temporarily overheated, buyers are still active, maintaining momentum in the bullish zone. The RSI is a momentum oscillator that ranges from 0 to 100, used to assess whether an asset is overbought or oversold. Readings above 70 typically indicate overbought conditions, which often precede a pullback, while values below 30 indicate oversold conditions and potential buying opportunities.
Right now, with the SOL RSI at 64.51, it indicates a continuation of bullish sentiment without overheating.
This level allows for further growth if momentum picks up again, but traders will closely watch whether the RSI can return to the overbought zone — or if selling pressure starts to increase.
Will Solana reach $500 by 2025?
The price of Solana is trading within a narrow range. It faces resistance at $152 and has support at $147.60.
Its EMA lines remain bullish, with short-term averages above long-term ones, signaling that the broader upward trend is still intact.
If the resistance at $152 is overcome, SOL could rise to $160, and with sustained momentum, even aim for $180. Looking further ahead, if Solana regains the momentum it had at the end of 2023 and into early 2024, it could retest its historical high of $256 and potentially reach $300 in the first half of 2025.
If the overall crypto market recovers in the second half of the year and Solana continues to lead in DEX volume and developer activity, the $500 mark will become a realistic long-term target.
However, on the bearish side, a loss of support at the $147.60 level could open the way for a correction to $124 or even $112 if the downward trend accelerates.#Write2Earn #BinanceSquare #crypto #solana #BinanceAlphaAlert $SOL