After outpacing Ethereum in volume, does Solana price prediction imply a structural rally capable of pushing SOL towards higher zones?
SOL bounces back
Solana (SOL) is beginning to find its footing after a steady decline through March and early April. As of Apr. 29, SOL is trading around $148.96, with a market cap of approximately $77 billion.
The recent recovery follows a move where Solana reached a multi-week high of $153 on Apr. 28. This gain was supported by improving sentiment across the broader altcoin market as well as a rally in Bitcoin (BTC).
Although SOL has experienced a minor pullback of about 2.5% over the past 24 hours, trading activity remains strong. Daily volume has reached around $3.08 billion, indicating renewed engagement from traders.
On a weekly basis, Solana has gained close to 10%. The recovery suggests that buyers are gradually returning after a longer correction phase that began when the price declined from around $178 in early March.
With market conditions showing signs of shifting and Solana appearing to stabilize, it is worth taking a closer look at what is unfolding around SOL and exploring the current Solana price outlook.
What is happening with Solana
Solana’s recent strength can be traced back to several key developments that are expanding its role within decentralized finance.
Over the last 24 hours, Solana captured nearly 38% of total decentralized exchange trading activity, recording about $3.39 billion in volume.
This performance places Solana ahead of Ethereum (ETH), which handled approximately $1.65 billion, as well as other major networks like Base and BNB Chain (BNB).
One reason behind this rising activity is Solana’s improved network efficiency. Average transaction fees recently fell to around $0.0025, their lowest level in six months, representing a decline of more than 92% compared to the peak fee levels seen in January.
Lower costs, combined with faster processing speeds, have made Solana increasingly attractive to developers and users seeking reliable and scalable DeFi solutions.
Another important development is the expansion of 1inch (1INCH), a DEX aggregator, onto the Solana blockchain. As of Apr. 29, 1inch users can now access over one million Solana-based tokens through the platform’s decentralized application.
The integration also brings 1inch’s Fusion protocol to Solana for the first time, offering users customizable swap features and improved pricing through a competitive bidding system among market makers.
For developers, the move opens access to six new APIs via the 1inch Developer Portal, supporting further application building within the Solana ecosystem.
Wider data over the past three months shows that Solana has been steadily outperforming other major DeFi platforms. It recorded 33% higher DEX trading volume compared to Ethereum and leading layer-2 networks, processed nearly 400% more transactions, and supported 180% more active addresses, according to Dune Analytics.
Interest from institutional players is also gaining momentum. DeFi Development Corp., previously known as Janover, disclosed plans to expand its Solana holdings as part of a $1 billion securities offering filed with the United States Securities and Exchange Commission.
The company has already purchased about $48.2 million worth of SOL and intends to operate validators on the network to earn staking rewards.
Janover’s strategy reflects a criticla shift among corporations seeking to add digital assets like Solana to their balance sheets, following earlier models seen with Bitcoin acquisitions.
Solana technical analysis
As of Apr. 29, Solana is trading around $148, showing a slight decline over the past 24 hours but still holding on to its weekly gains. From a technical perspective, indicators present a mixed but cautiously positive outlook.
The daily Relative Strength Index currently stands at 61.36, reflecting neutral momentum with room for further upward movement before entering overbought territory.
However, the presence of a bearish MACD crossover, with the MACD line at 2.73 and the signal line at 8.46, suggests some near-term selling pressure that traders should monitor closely.
Moving averages offer additional context. The 50-day simple moving average (SMA) is positioned at $131, indicating that the intermediate-term trend remains supportive of bullish sentiment. Meanwhile, the 200-day SMA currently stands at $181 levels.
The divergence between shorter- and longer-term averages points to underlying strength in the current rally but also highlights the need for sustained momentum to support longer-term growth.
On the four-hour chart, Solana has been forming a bullish flag pattern near the $145 level. A successful breakout above the immediate resistance at $150 could open the path toward the $160 area.
Weekly timeframes show additional signs of strength. A bullish engulfing pattern has emerged, often seen as a positive signal for continued buyer dominance.
In the immediate term, Solana may test the $160 level if resistance at $150 is cleared with convincing volume. Over the medium term, a range between $180 and $205 appears achievable if technical patterns continue to play out and market conditions stay favorable.
Solana price prediction
While Solana’s technical patterns suggest the potential for strong growth, short- and medium-term forecasts remain cautious.
One analysis from Ali Charts points to a large cup and handle formation spanning from mid-2022 to early 2024.
In technical terms, this pattern typically signals a period of deep correction followed by gradual recovery and consolidation, setting the stage for a potential breakout.
According to the analysis, the resistance zone for the cup formation is located between $195 and $200. If Solana breaks above this range, the classical projection method suggests a target near $392, based on the depth of the pattern.
Longer-term interpretations even suggest that prices could climb toward a range between $600 and $3,300, although such outcomes would depend on broader market dynamics.
In contrast, short-term forecasts are more restrained. CoinCodex projects that Solana could hover around $150.77 over the next five days. Over the next one to three months, the platform forecasts a mild decline toward $139.56 and $137.51 respectively.
Meanwhile, DigitalCoinPrice presents a more optimistic scenario. Their forecast for 2025 places Solana’s average price around $293.91, with a potential maximum reaching up to $325.80.
Over the longer term, their models suggest that Solana could continue to appreciate, with possible average prices near $521.54 by 2027 and $794.91 by 2030.
While technical structures and broader adoption trends present opportunities, it is important to approach projections with a measured perspective.
Investors and traders considering Solana should be aware that cryptocurrency markets are highly volatile and that predictions, even when backed by historical patterns or models, are not certainties. Trade wisely and never invest more than you can afford to lose.
