Superstorm is coming! Can Solana break through the $147 barrier?

In April, over $450 million in funds were transferred to the Solana network, providing strong support for its market position. Currently, the price of Solana (SOL) is close to $143.5, with bears and bulls engaged in intense competition around this price.

Cross-chain activities on the Solana blockchain have significantly increased, especially the inflow of ETH assets, reflecting users' confidence in Solana's ability to efficiently and cost-effectively handle large-scale transactions. The decentralized finance (DeFi) and dApp ecosystem of Solana is also growing, driving the liquidity and market influence of SOL.

However, despite Solana's outstanding revenue performance and leading position, future stable growth still faces challenges. If the network experiences congestion or a decline in activity, its development may be hindered.

Technical analysis shows that the SOL price may experience significant fluctuations in the range of $143.32 to $147.5, and a breakthrough above $145 could trigger short-seller liquidations, quickly pushing the price up to $150 or even higher.

Solana is currently solidly positioned within the support range of $120 to $150. Once it breaks through $200, a new wave of upward momentum may emerge, potentially challenging the historical high of $300. However, if it falls below the $120 support, the market may enter a correction phase, with a target price of $85.

In the short term, Solana needs to maintain its upward momentum on the trend line and break through key resistance levels to further solidify its market position.