• Solana reversed from $125.99, built a textbook double bottom, and is now consolidating just under the $155.73 neckline.

  • BitGuru charts confirm an inverse head and shoulders on Solana, with $168.49 and $179.64 as critical resistance levels.

  • Jeremy tracked Solana DEX volume hitting $100B in Q4 2024, with $60B weekly flows continuing through March 2025.

Solana is holding strong above key price levels, showing bullish chart structure and growing DEX volumes across its ecosystem. Technical recovery and on-chain activity now point to firm market conviction behind the $SOL rally.

Solana Holds Support After Structural Breakout

Solana created a major low at $125.99 before reversing sharply and forming a double bottom at $141.84 and $148.83. This structure developed beneath $168.49, a neckline level previously rejected twice after peaking at $168.09. Price action rebounded with force, retesting $155.73 this week.

According to BitGuru, Solana completed a clean inverse head and shoulders pattern with $155.73 acting as neckline resistance. His chart shows a right shoulder formed between June 25–29, followed by a bullish continuation toward the neckline. He identifies $168.49 and $179.64 as the next critical zones in focus.

Source: (X)

Solana’s current pullback sits just below the breakout level. Price is holding near $153.75, consolidating above former breakout areas. This structure builds on the bullish reversal that began after the June dump, confirming ongoing momentum in the market.

Solana DEX Activity Signals Ecosystem Strength

DEX volume on Solana has surged since late 2023, with March 2025 logging over $60 billion in weekly activity. From July 2022 through mid-2023, Solana posted less than $500 million daily across most platforms. That shifted as new protocols entered the space.

Jeremy reported that Solana’s largest volume spike occurred in Q4 2024, with peak weeks touching nearly $100 billion. His data shows Raydium leading in transaction flow, with Phoenix and Meteora providing consistent secondary volume. Newcomers like Pumpdotfun and legacy players such as Orca also contributed.

https://twitter.com/Jeremyybtc/status/1940010859125788832

This volume growth shows Solana’s expanding liquidity across multiple venues, not concentrated in one protocol. Sustained activity from Q4 2024 into mid-2025 highlights the depth of Solana’s DeFi infrastructure. Strong capital rotation continues into Q3 2025.

Solana remains one of the most structurally sound Layer 1s by chart and DEX data. Both price action and liquidity trends reflect strong conviction from traders and capital allocators. Pullbacks are still being bought, and resistance at $168.49 continues to act as a decisive battleground.