Solana (SOL) Breaks Key Price Barrier: Volume Jumps 35% – What’s Next?

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Ah, Solana, the ever-dramatic crypto diva. It has finally breached a price level that could very well dictate its fate. Yes, ladies and gentlemen, after a decent 35% jump in trading volume, this blockchain network is back in the spotlight! Investors have rediscovered their love affair with SOL—just in time for another price roller coaster! 🎢

The Solana Price Pivot: A Sashay Into the Unknown

It seems like Solana has been busy recovering. After dipping to $100 on April 9, the price shot up by over 16% in the past week, like a cat landing gracefully on its feet. The crowd cheered as it hovered around $129, where a huge chunk of investors—32 million SOL to be exact—decided to jump in. That’s about 5% of the total SOL supply, making it a supply cluster so large it could have its own zip code. 🏠

As the ever-eloquent Glassnode notes: “The $129 zone could act as a support during future drawdowns… unless it decides to turn against us and become resistance!” No pressure, right? 🙃

#Solana’s URPD shows a major shift in cost basis over the past two days, forming the largest supply cluster (>5%) at $129.79 with over 32M $SOL. This zone could act as a support during future drawdowns, reflecting high investor engagement at this price level.

— glassnode (@glassnode) April 15, 2025

If Solana manages to stay above $129, it may just glide like a ballerina. But should it fall below, expect resistance to rise faster than a caffeine-fueled stockbroker. 📉

Further drama unfolds with two other critical levels. The next support level appears at $144.54, where 27.5 million SOL were purchased, representing about 4.7% of the total supply. Not too shabby. Below $129? Well, there’s $117.99, holding steady with 18 million SOL. It’s like a dance of price levels, each trying to outdo the other. 🩰

In a surprising twist, liquidity is returning to Solana’s network! In the past 30 days, over $120 million has been bridged over, with Ethereum leading the pack by contributing $41.5 million. Arbitrum and others pitched in, marking a welcome contrast to the massive exit earlier this year when Solana had a crisis of confidence. ☁️

As of now, the price of Solana sits at $133.18, up by 6.27% in just 24 hours. Solana maintains its solid position as the sixth-largest cryptocurrency, boasting a market cap of $69.19 billion. Watch out, folks. This crypto isn’t going anywhere. 💰

The Buy Signals: Could a Rally Be on the Horizon?

And just when you thought it was safe to go back into the water—BOOM! A TD Sequential buy signal flashed twice this past week on Solana’s weekly chart. For those who don’t know, that’s a signal traders use to spot trend reversals. Looks like the recent correction may be coming to an end. But who knows? It’s crypto! 🤷‍♂️

Ali Martinez, the ever-watchful crypto analyst, had previously noted that Solana had to stay above $95 and break through $121 to set the stage for a rally toward $147. Guess what? Solana has danced through these levels with grace and poise. A massive breakout may be just around the corner. Or… it could not. Because, well, crypto. 😅

TD Sequential flashes buy signal on the #Solana weekly chart! $SOL needs to stay above $95 and break $121 to set the stage for a rally toward $147.

— Ali (@ali_charts) April 8, 2025

And let’s not forget the wild card: memecoins! Yes, those funny little tokens are adding fuel to the fire. POPCAT has soared by 79%, FARTCOIN by 51%, BONK by 25%, and WIF by 21%. No, this is not a joke. But yes, it’s totally happening. 😂

Meanwhile, Janover, the real estate financing platform, has decided to go big and purchased an additional $10.5 million worth of SOL. Now their holdings are worth around $21.2 million. Solana’s popularity is certainly on the rise—maybe even with a few real estate moguls on the side. 🏡

All these developments have sparked increased activity, though let’s not get carried away. Despite all the enthusiasm, the total fees in April are still far below the highs of January 2025. But hey, who’s counting, right? 😎

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2025-04-17 17:03