After closing the past three weeks in a bullish outlook, Solana (SOL) price has signaled the return of bullish sentiment. The large-cap altcoin, with a fully diluted valuation of about $90 billion and a 24-hour average trading volume of around $3.7 billion, gained over 20 percent in April 2025 to trade at about $150.33 on Thursday, during the late North American session.
The rising bullish momentum for Solana is heavily bolstered by institutional investors and rising Futures Open Interest (OI) by over $1.6 billion in the past four weeks.
In the weekly timeframe, Solana price has been consolidating in a megaphone structure for the past twelve months. Following a successful rebound from the lower border of the macro megaphone, SOL price has gradually gained bullish momentum.
Moreover, the weekly MACD histograms have been signaling a growing bullish momentum after a prolonged bearish period. Additionally, the weekly MACD line is almost crossing the signal line, suggesting bullish sentiment.
Meanwhile, the Bollinger Bands for Solana price, in the four-hour timeframe, have been squeezing, signaling a major price move in the near future.
The Solana network remains a premier ecosystem for DeFi developers, with a total value locked (TVL) of about $8 billion and a stablecoins market cap of around $13 billion. The Solana network has recorded significant growth in memecoins in the past year, thus achieving a 24-hour active addresses of over 3.6 million across its DeFi protocols.
The anticipated approval of spot Solana ETFs before the end of 2025, will play a crucial role in SOL’s market outlook. Moreover, the rising adoption of Solana from institutional investors will help validate the network and increase its demand and liquidity in the long haul.
When businesses evaluate payment systems, they look at specific numbers that affect their bottom line.…
On May 15, Coinbase announced that it would delist the MOVE token, stating that it…
Biggest Bitcoin critic and veteran Trader Peter Brandt has shared a bold price forecast. According…
The start of the month was pretty bullish as the crypto market capitalization surged back…
A new development from fintech platform Zypto App is bringing real-world utility to Pi Network…
Movement Labs has suspended co-founder Rushi Manche following a controversial token incident involving 66 million…