$SOL May 5, 2025, Solana (SOL) is trading at approximately $145.76, reflecting a 0.72% decrease over the past 24 hours. Despite this slight dip, trading volume has surged by 19.4%, indicating heightened investor interest.

Technical analysts suggest that if SOL surpasses the $170 resistance level, it could rally to $350 and potentially reach $900, driven by sustained market momentum.

On-chain metrics reveal that Solana's Total Value Locked (TVL) in DeFi protocols has climbed to $5.6 billion, marking a 12% week-over-week increase. Additionally, daily active addresses have risen to 1.2 million, up 8% from the previous week, underscoring robust network engagement.

Furthermore, a scheduled release of 465,770 SOL tokens, valued at $67.27 million, is set to occur gradually. This release represents only 0.09% of Solana's circulating supply, suggesting minimal immediate impact on the market.

In summary, while SOL experienced a minor price decline, the combination of increased trading volume, strong on-chain activity, and positive technical indicators point toward a potentially bullish outlook for Solana.