Solana Price Surges Over 16% as Trading Volume Increases by 35%
Solana has experienced a significant price movement and increased trading activity, indicating potential shifts in investor sentiment.
Key Developments
- Solana's price rose over 16% in the past week, recovering from a low of $100 on April 9, currently at $133.18.
- Trading volume increased by 35%, with over 32 million SOL purchased around the $129 price level, representing 5% of total supply.
- The $129 level is deemed a pivotal support; falling below may turn it into resistance.
- Other notable price levels include $144.54 (27.5 million SOL) and $117.99 (18 million SOL).
- Liquidity returned to the Solana network, with over $120 million bridged in the last 30 days, primarily from Ethereum and Arbitrum.
Market Sentiment
- A TD Sequential buy signal appeared twice recently, suggesting possible trend reversals.
- Solana must maintain above $95 and surpass $121 for upward momentum toward $147.
Additional Information
- Memecoins on Solana have gained traction, with notable increases in tokens like POPCAT (79%), FARTCOIN (51%), BONK (25%), and WIF (21%).
- Real estate financing platform Janover increased its holdings of SOL by $10.5 million, totaling approximately $21.2 million.
Despite rising interest, total fees generated in April remain lower than those recorded in January 2025.