- Solana crosses $150 as meme coins and stablecoins drive renewed ecosystem growth.
- Trading volume on Solana exceeds $17B, with active addresses rising to 3.1 million.
- Technical indicators show bullish momentum, with $160 and $420 price targets in view.
Solana (SOL) has made a strong recovery, crossing the $150 mark as activity within its ecosystem rises sharply. Investors are showing renewed interest as meme coins and stablecoins on the network expand. According to market observations, the Solana bounce-back is indeed being televised, and analysts believe $420 SOL will come swiftly, with even higher levels possible.
Solana Price Moves Above Key Resistance as Ecosystem Grows
According to analysis prepared by industry trackers, Solana’s price reached $153, its highest level since March 3. This level is about 60% above its lowest point this year. The market capitalization of Solana also increased to nearly $80 billion as trading volumes rose.
Meme coins built on Solana, including Bonk (BONK), Dogwifhat (WIF), and Official Trump (TRUMP), contributed to the recovery. Their combined market capitalization grew to $10 billion after being at a lower point earlier this month. Exchanges within Solana’s network, such as Raydium and Orca, processed over $17 billion in trading volume during the last seven days.
The number of active addresses on Solana rose to 3.1 million, which suggests strong user engagement. According to an observation by market researchers, Solana’s stablecoin market cap also jumped to $13.1 billion, the highest ever recorded for the network.
Technical Indicators Support the Possibility of Further Gains
Solana’s price structure shows bullish signs as it recently moved above the crucial resistance at $121.17. According to an observation by Crypto Nova, the price also broke through the $150 barrier and formed an inverse head-and-shoulders pattern.
Indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have been trending upward. Support at $145 has remained strong, and resistance at $152 was tested successfully. Analysts note that if momentum continues, Solana could approach $160 soon, and $420 might be within reach shortly after.
