Solana’s Bullish Surge: Technical Analysis Points to $360 Target Amid Market Optimism
Solana’s SOL token has demonstrated a remarkable bullish trajectory, surging from $146 at the end of April to $167.72 in recent trading sessions, a level not seen since mid-February. This rally underscores Solana’s growing dominance among non-EVM smart contract platforms, with market participants closely monitoring key technical levels for further upside potential. Independent analyst More Crypto Online has identified a five-wave pattern from the April 30 low, suggesting the move is part of a broader upward trend. With the current price at $167.72, technical analysis indicates a potential target of $360, fueling Optimism among investors and traders alike.
Solana Price Rally Targets $360—Technical Analysis Suggests Further Upside
Solana’s SOL token continues its bullish trajectory, surging from $146 at April’s close to $18 in Wednesday trading—a level unseen since mid-February. The rally reflects growing dominance among non-EVM smart contract platforms, with market participants closely watching key technical levels.
Independent analyst More crypto Online identifies a five-wave pattern from the April 30 low, noting the move appears ’very full but not overextended.’ Critical micro-support lies between $159.67 and $168.23, a zone that briefly underwent testing this week. ’Absence of a confirmed top suggests potential for another high,’ the analyst observed, emphasizing this range’s role as a springboard for further gains.
Solana (SOL) Eyes $200 Breakout as Bullish Momentum Builds
Solana (SOL) is emerging as a standout performer in the current crypto market cycle, with strong potential for a major breakout. After weeks of consolidation between $120 and $130, the asset has surged to approximately $178, driven by robust technical indicators and escalating demand.
A key bullish signal is the recent crossover of the 26-day Exponential Moving Average (EMA) above both the 50 and 100 EMAs—a pattern historically associated with sharp upward movements. solana has also decisively breached its 200 EMA, a critical resistance level that now serves as support, further reinforcing optimism.
Trading volume corroborates the upward trajectory, with each price increase accompanied by heightened activity. Market participants are closely watching the $200 threshold, which appears increasingly within reach.
Solana (SOL) Finds Support — Rally May Be Ready to Resume
Solana’s price action shows resilience as it establishes a base above $155, mirroring broader market trends seen in Bitcoin and Ethereum. The asset has surged past key resistance levels at $160 and $165, now consolidating near $175 with a bullish flag pattern forming on hourly charts. A decisive break above $180 could signal the next leg up.
Market participants are watching the $172 support zone closely, where bids appear to be stacking. The current correction follows a rejection at $185, a level that remains crucial for confirming sustained upward momentum. Technical indicators suggest accumulation at these levels, with the 100-hour moving average providing dynamic support.
NBA Champion Lamar Odom Launches Anti-addiction Memecoin on Solana
Former NBA champion Lamar Odom has entered the Web3 space with a mission-driven memecoin project aimed at combating addiction. The token, built on the Solana blockchain, allocates 5% of its total supply to support global drug rehabilitation centers.
"I’ve looked death in the face and battled addiction to earn a second chance at life. Today, I hope to use the power of Web3 to help others find theirs," Odom stated in a social media post. The initiative represents a novel convergence of blockchain transparency and social impact.
The project has garnered institutional backing, including support from a Nasdaq-listed company, positioning it as a potential model for future cause-oriented cryptocurrency ventures.
Pump.fun Loses Dominance as New Meme Coin Launchpads Rise on Solana
The meme coin launchpad landscape on Solana is undergoing a seismic shift. Pump.fun, once commanding over 98% market share, has seen its dominance erode to 57.5% as challengers like LetsBonk and Believe gain traction. This fragmentation signals a maturing ecosystem where no single platform can maintain monopoly control.
Daily transaction metrics reveal the sector’s explosive growth. More than 200,000 Solana addresses now interact with meme coin launchpads daily, according to Dune Analytics. This surge in activity coincides with the emergence of multiple competing platforms including LaunchLab, Auto.fun, and the newer entrants LetsBonk and Believe.
The proliferation of launchpad options is driving unprecedented community participation and trading volume. While Pump.fun remains the market leader, its declining share suggests the Solana meme coin ecosystem is evolving toward a more competitive, multi-platform future.
Sygnum Bank Adds Staked SOL as Collateral for Lombard Loans
Sygnum Bank, a global digital asset institution with operations in Switzerland and Singapore, has expanded its loan collateral options by including staked Solana (SOL). This MOVE enables institutional clients to simultaneously access fiat liquidity and earn staking rewards, creating dual-income potential from a single asset.
The bank’s Lombard loan portfolio now supports over 20 tokens, with staked SOL becoming eligible for loans denominated in Swiss Franc, Euro, Singapore dollar, and US dollar. Sygnum highlights that the staking rewards generated typically offset most borrowing costs, making SOL-collateralized loans particularly cost-effective.
The announcement coincides with reported doubling of Sygnum’s Lombard loan volumes, reflecting growing institutional demand for crypto-backed financing solutions.
