SOL
Solana Triggers Long Thesis After Pushing Above $125 – Start Of A Bigger Rally?
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Solana is trading above the $125 mark after bulls stepped in with force, reclaiming critical technical levels and bringing some relief to a market that had been dominated by selling pressure. After weeks of steep declines and heightened volatility, Solana is finally showing signs of strength as buyers return and confidence starts to rebuild.
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The bounce came at a crucial moment, as SOL was on the verge of breaking into lower demand zones following a sharp 47% drop since early March. The shift in momentum has caught the attention of market participants, especially as broader market sentiment begins to stabilize.
Top analyst Big Cheds shared a technical analysis on X, suggesting that Solana has “triggered a long thesis overnight” after reclaiming several key levels on the chart. His comments are fueling speculation that this move could mark the beginning of a broader recovery phase for SOL—provided bulls can hold current levels and build momentum from here.
As traders monitor upcoming resistance and key indicators, the next few days will be crucial in determining whether Solana’s rally has legs—or if it’s just another short-lived bounce in a volatile macro environment.
Solana Surges 40% As Long Thesis Takes Shape
Solana has gained over 40% since last Monday, sparking renewed bullish sentiment and opening a debate among analysts and traders: is this the start of a sustained move higher, or will SOL consolidate around current prices? After weeks of persistent selling pressure, Solana has finally seen a wave of buying interest, bouncing strongly from a $95 low. This bounce marks one of the most aggressive reversals among major altcoins during the recent market correction.
The surge came shortly after US President Donald Trump announced a 90-day pause on reciprocal tariffs for all countries except China, which now faces a 145% tariff. The announcement sparked relief rallies across risk assets, with Solana among the top beneficiaries.
Big Ched’s analysis reveals that Solana triggered a long thesis after successfully reclaiming the $125 resistance level. This move is seen as a breakout confirmation, suggesting that a bullish structure may now be forming.
However, global tensions and trade war fears continue to inject uncertainty into financial markets. For Solana, holding above the $120–$125 support zone will be key in determining whether the recent bounce has staying power—or if further consolidation is in store.
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Price Holds Above Key Moving Averages: Crucial Resistance Awaits
Solana (SOL) is trading at $131 after finally breaking above the 4-hour 200 Moving Average (MA) and Exponential Moving Average (EMA), which sat around $125 and $128, respectively. This move signals a potential short-term trend shift in favor of the bulls, who are now holding some advantage after reclaiming these critical technical levels. The breakout came on strong volume, reinforcing the bullish momentum that emerged from last week’s bounce off the $95 low.
However, for the rally to continue and higher highs to form, SOL must maintain its position above the $125 level and push toward the next major resistance around $146. Reclaiming this level would strengthen bullish conviction and confirm a recovery rally in the broader trend.
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Despite the recent strength, risks remain. If Solana fails to hold above $125, the bullish setup could unravel quickly, and the price may revisit the $100 demand zone. With global market volatility still elevated due to ongoing macroeconomic tensions, traders are watching this support-resistance range closely to determine whether SOL can sustain upward momentum or return to consolidation.
Featured image from Dall-E, chart from TradingView
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Solana started a fresh increase from the $132 support zone. SOL price is now consolidating and might climb further above the $155 resistance zone.
- SOL price started a fresh increase above the $135 and $150 levels against the US Dollar.
- The price is now trading above $150 and the 100-hourly simple moving average.
- There is a connecting bullish trend line forming with support at $150 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could start a fresh increase if it clears the $155 resistance zone.
Solana Price Gains Over 10%
Solana price formed a base above the $132 support and started a fresh increase, like Bitcoin and Ethereum. SOL gained pace for a move above the $135 and $145 resistance levels.
The pair even spiked toward the $150 resistance zone. A high was formed at $154.55 and the price is now consolidating gains. There was a minor move below the 23.6% Fib retracement level of the upward move from the $145 swing low to the $155 high.
Solana is now trading above $150 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $150 on the hourly chart of the SOL/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $145 swing low to the $155 high.
On the upside, the price is facing resistance near the $154 level. The next major resistance is near the $155 level. The main resistance could be $162. A successful close above the $162 resistance zone could set the pace for another steady increase. The next key resistance is $175. Any more gains might send the price toward the $180 level.
Pullback in SOL?
If SOL fails to rise above the $155 resistance, it could start another decline. Initial support on the downside is near the $150 zone. The first major support is near the $145 level.
A break below the $145 level might send the price toward the $138 zone. If there is a close below the $138 support, the price could decline toward the $132 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $150 and $145.
Major Resistance Levels – $155 and $162.
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Altcoins
XRP, Solana, DOGE and Others Among 72 Different ETF Applications Waiting for SEC Approval: Report
Crypto firms are now waiting to hear back on 72 active applications for new crypto-related exchange-traded funds (ETFs).
James Seyffart, an ETF analyst at Bloomberg Intelligence, compiled the list of submissions to the U.S. Securities and Exchange Commission (SEC).
ETFs awaiting approval include funds tied to Solana (SOL), XRP (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL) Hedera (HBAR), BNB, Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), Aptos (APT), Chainlink (LINK), Pudgy Penguins (PENGU), Official Trump (TRUMP), Melania (MELANIA) and Bonk (BONK).
Other potential new ETFs are tied to a basket of currencies, and a few are based on Bitcoin (BTC) and/or Ethereum (ETH), assets that have already been approved for inclusion in other spot ETFs.
Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, predicts that BTC ETFs will remain dominant regardless of the number of altcoin funds that are approved.
“No Second Best? Bitcoin ETFs command 90% of all the crypto fund assets globally. While a TON of alt/meme coin ETFs are likely going to hit market this year, they will only make a minor dent, Bitcoin likely to retain at least 80-85% share long-term.”
The SEC greenlit the first spot market Bitcoin ETFs in January 2024, bringing in billions of dollars worth of inflows to the top digital asset by market cap, and the regulator subsequently approved Ethereum ETFs for trading last July.
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Featured Image: Shutterstock/Don White – Art Dreamer/Vladimir Sazonov
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24/7 Cryptocurrency News
Solana Price Targets $250 as SOL Strategies Unveils $500M Convertible Note to Buy SOL
Solana price is on the rise, and analysts observe trends that may propel it to the $250 mark. This is an optimistic prediction following SOL Strategies, a listed Canadian company that deals in the Solana ecosystem, announcing that it has secured a $500 million convertible note deal with ATW Partners to boost its SOL holdings and staking activities.
$500 Million Convertible Note Structure To Buy SOL
SOL Strategies has secured what it describes as a “first-of-its-kind” convertible note facility with ATW Partners. According to the announcement, the $500 million facility will be implemented in multiple tranches. This starts with a $20 million closing expected to occur around May 1, 2025. This is subject to customary closing conditions.
BREAKING: SOL Strategies secures landmark USD $500M convertible note facility with ATW Partners to expand SOL holdings.
This first-of-its-kind structure is exclusively for SOL purchases and staking on our validators, with interest paid in SOL.
This represents the largest… pic.twitter.com/p9SB4dRm6o
— SOL Strategies (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) April 23, 2025
The facility is designed basically for the Solana ecosystem. Also, all capital will be exclusively allocated to purchasing SOL tokens. These tokens will then be staked on validators operated directly by SOL Strategies.
The announcement comes at a time when the Solana price has reclaimed the $150 level. SOL has pumped close to 18% in the last seven days.
In a notable element of the agreement, interest on the notes will be paid in SOL tokens rather than fiat currency. This interest will be calculated as up to 85% of the staking yield generated by the SOL acquired through the facility.
Technical Analysis Points To $250 Solana Price Target
Technical analysts are observing bullish patterns on Solana price charts that are indicative of a possible run-up to the $250 level. The SOL/USDT chart shows a definitive breakout from a falling wedge pattern. This is identified as a bullish indication of a price increase in technical analysis.
Analyst Luciano_BTC has shared some important changes on the chart. They are a “Falling Wedge” pattern that has shifted higher with a clean “Trendline Breakout.” The chart from the analyst also displays a potential target of +50% Uptrend.
Called it – pumped it.
$SOL is the easiest trade of the century.
In my opinion, more green candles are coming.
NFA. https://t.co/MRjTpSy9ij pic.twitter.com/HXYbgwBR58
— Lucky (@LLuciano_BTC) April 23, 2025
Technical analyst Christiaan concurs with this technical outlook. He just tweeted that the Solana price is heading to $250. Another analyst, Lucky, expressed strong conviction about Solana’s prospects. He called it the easiest trade of the century and predicting more green candles are coming.
The technical configuration shows SOL finding support at a point known as a Demand Zone, which Luciano_BTC identified, prior to starting its current rally. The chart shows a number of possible points of resistance to $250, with targets towards $180 and $220 before reaching the final destination. CoinGape has also analyzed and shared their price prediction for Solana, which shows that SOL is 49% bullish.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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