Solana Consolidates After Bullish Rally: Key Levels to Watch
Solana (SOL) is currently in a consolidation phase after a strong bullish rally, with its price stabilizing around $170. This article delves into the critical technical signals and potential future movements for SOL as of May 21, 2025.
Solana on Hold: Key Technical Signals as of May 21, 2025
Solana enters a consolidation phase following a robust bullish rally, with its price hovering around $170. The asset demonstrates strong underlying momentum across all timeframes, supported by rising trading volumes and a recovering technical profile.
Critical technical levels frame the current range, with $133 acting as a neutral pivot. A decisive breakout from either boundary could ignite significant directional movement. Derivatives data reveals modest declines in open interest, suggesting tempered selling pressure amid persistently bullish sentiment.
The primary scenario remains constructive above $159, with upside targets at $184, $209, and $220—representing a potential 31% gain. Bears WOULD need to force a breakdown below key support to invalidate the positive outlook.
Canary Capital Taps Marinade Select as Solana ETF Staking Provider
Canary Capital, a crypto-focused investment firm, has selected Marinade Select as the staking provider for its upcoming Canary Marinade solana ETF. The partnership leverages Marinade Labs’ institutional-grade staking technology, which pioneered Solana’s first staking protocol.
The amended S-1 filing with the SEC confirms Marinade Select will handle security and compliance for the ETF. This marks another step in Solana’s institutional adoption, as asset managers build infrastructure around the blockchain’s native staking mechanics.
Solana Price Prediction: 2025 Sees Bullish Breakout Building as SOL Targets $200
Solana is gaining momentum amid positive developments, with price holding NEAR key levels and on-chain metrics signaling strength. A clean technical structure suggests a potential rally, though the next major move has yet to materialize.
Analyst Jesse Peralta identifies a curling bottom formation within a falling wedge, projecting a breakout toward $200. While unconfirmed, the setup appears increasingly primed for upward movement.
Solana Retail Holdings Reach Record High Amid DeFi Boom
Solana’s retail investor base has surged to unprecedented levels, with 11.6 million wallets now holding at least 0.1 SOL. This marks a 29% increase from December 2024’s 9 million wallets, defying broader market trends where whale dominance typically overshadows small holders.
The growth appears driven by two converging factors: speculative anticipation of a price rally and expanding DeFi infrastructure on Solana. Unlike other networks experiencing institutional sell-offs, Solana’s grassroots adoption suggests organic demand rather than speculative positioning.
On-chain metrics reveal this isn’t transient accumulation—retail holdings have demonstrated consistent quarterly growth. The 0.1 SOL threshold (approximately $10 at current prices) indicates meaningful participation beyond mere airdrop farming or micro-transactions.
