- Solana is showing strong bullish momentum with a V-shaped recovery, aiming for $250 as network activity and demand surge.
- Rising TVL, increased DEX volume, and ETF approval hopes are fueling optimism for a breakout past key resistance levels.
Solana (SOL) has been making impressive strides in 2025, with a notable 8% increase on May 1st that saw its price surge to around the $150 mark. This growth comes alongside a robust recovery pattern and increased network activity, sparking optimism for further gains. With the blockchain showing clear signs of rising demand and technical bullish trends, Solana is on the verge of a major breakout, potentially pushing its price toward $250.
Solana’s Strong On-Chain Activity and Demand Signals
Solana’s ecosystem is firing on all cylinders. The blockchain has experienced a 25% increase in its Total Value Locked (TVL) over the past month, reaching an impressive $8 billion. This surge highlights the growing confidence in the network, and its rising Daily DEX volumes, up by more than 90% since April, further underscore the ecosystem’s vitality. Additionally, Solana’s Open Interest stands at $5.86 billion, making it the third-largest in the crypto world, signaling strong investor interest and growing demand.
These fundamental growth signals are paired with a highly optimistic technical outlook. Solana has broken free from a long-term downtrend, forming a classic V-shaped recovery on its weekly chart. If this bullish pattern continues, analysts expect the price to target $250, with the potential to reach new all-time highs of around $294.
Also read: Dogecoin Poised for $1.42 Target as Whales Accumulate 100M DOGE: What’s Next for DOGE?
Technical Analysis: Bullish Momentum Building
Solana’s recent price action has been encouraging, with the cryptocurrency trading above the key $150 level and confirming a shift from a bearish to a bullish trend. The V-shaped recovery pattern, targeting $250, shows promise, especially as SOL continues to break through resistance zones. The critical level to watch is between $160 and $200, where a significant resistance area resides. If Solana can clear this zone, the path to $250 and beyond will be wide open.
Moreover, the market is showing strong momentum, with rising support levels around $145 to $148, providing a solid price structure for further growth.
Spot Solana ETF Boosts Long-Term Outlook
A potential catalyst for Solana’s future growth is the anticipated approval of a U.S. spot Solana ETF, which could significantly boost institutional demand and provide more access to the market. With analysts at Bloomberg Intelligence projecting a 90% chance of approval by 2025, the ETF’s introduction could further fuel Solana’s growth trajectory.
In conclusion, Solana’s combination of robust technical patterns, explosive network activity, and institutional support makes it a top contender for future price growth. If the blockchain can maintain its momentum and clear key resistance levels, it could see a significant rally toward $250 and potentially set new all-time highs in the near future.
