Solana’s Bullish Trajectory: Technicals and DeFi Momentum Point to $256 Target
Solana (SOL) is currently exhibiting strong bullish signals, with its price consolidating above $165 following a significant rally. Key technical indicators, including a Golden Cross formation—where the 50-day moving average crosses above the 200-day line—suggest further upside potential. The $161–$166 zone has emerged as critical support, with analysts eyeing near-term targets of $189 and $206 if buyers maintain this level. Notably, Mary Emerald projects a 60% surge to $256, fueled by growing DeFi momentum and positive market sentiment. However, caution remains as the MACD histogram continues to show negative pressure. As of August 7, 2025, Solana's trajectory remains a focal point for traders and investors alike.
Solana Eyes $256 as Technicals and DeFi Momentum Fuel Bullish Sentiment
Solana (SOL) has consolidated above $165 after a sharp rally, with on-chain data revealing a Golden Cross formation—a bullish signal where the 50-day moving average crosses above the 200-day line. The $161–$166 zone now acts as critical support, with analysts targeting $189 and $206 if buyers hold this level. Mary Emerald projects a 60% surge to $256, though bearish pressure lingers as the MACD histogram remains negative.
The launch of Solana's Web3-enabled Seeker phone in 50 countries adds fundamental momentum, potentially accelerating adoption. Traders are monitoring trading volume at $189; a decisive breakout could confirm the uptrend.
Solana Price Recovery Hinges on Key Market Signals
Solana's recent price action suggests a potential recovery, supported by three critical metrics. Despite a recent decline, SOL remains 10% higher over the past three months, with market signals now hinting at an upward trajectory. A rare chart formation could catalyze a short-term rally if historical patterns repeat.
Exchange selling pressure has dropped significantly, with Solana's balance on centralized platforms falling nearly 10% from 33.06 million to 30.78 million SOL between July 23 and August 5. This reduction in available supply often precedes price rebounds. Notably, SOL's price has crossed above its exchange supply trendline—a bullish crossover that previously triggered rallies of 18% in six days and 3% in three sessions.
Institutional interest remains resilient, with CME futures open interest holding steady despite price volatility. This derivatives activity suggests professional traders maintain confidence in Solana's medium-term prospects.
Solana Apps See 50% Revenue Surge in July Amid Meme Token and Trading Activity
Solana's ecosystem accelerated sharply in July, with application revenues climbing 50% month-over-month to $164M. The network outperformed all other LAYER 1 and Layer 2 chains in fee generation for the tenth consecutive month, fueled by meme token swaps and trading tools.
Key drivers included LetsBonk.fun and increased Phantom wallet engagement, while Raydium, Pump.fun, and Jupiter Exchange emerged as the most active dApps. Jito generated $1.54M in daily fees at peak, with Jupiter DEX and Meteora occasionally exceeding $3M.
Stablecoin adoption provided additional momentum—USDC supply on solana surpassed 12B tokens, with USDT exceeding 2B. The network continues evolving beyond meme coins, though launch platforms remain dominant revenue generators.
Solana Price Prediction: $500 Target in Sight as Key Support Level Holds
Solana's price trajectory hinges on a critical breakout at $297, with technical patterns suggesting potential upside toward $500. A 4-month ascending channel and falling wedge breakout signal renewed bullish momentum, while macroeconomic shifts favor risk assets.
The Federal Reserve's anticipated rate cuts—potentially three by 2025—could flood markets with liquidity, reigniting altcoin season. Solana stands to benefit disproportionately, with a spot SOL ETF decision looming on October 10 that may unlock traditional finance demand.
Chart analysis reveals a double bottom reversal forming NEAR $157, with resistance awaiting at $207. Market sentiment aligns with technicals: Binance data shows SOL/USDT consolidating within a defined channel since April, now primed for resolution.
Pump.fun Surpasses letsBONK.fun to Reclaim Dominance in Solana Meme Coin Market
Pump.fun has overtaken letsBONK.fun as the leading meme coin launchpad on Solana, marking a significant shift in the competitive landscape. Key metrics—including 24-hour trading volume, revenue, and token launches—now favor Pump.fun for the first time since early July.
On August 6, Pump.fun recorded $144.5 million in graduation volume, dwarfing letsBONK.fun's $34.6 million. Post-graduation trading volume for Pump.fun tokens reached $525 million, compared to $305 million for letsBONK.fun. Revenue figures followed suit, with Pump.fun generating $1.38 million against letsBONK.fun's $282,342.
The resurgence underscores Pump.fun's renewed momentum, though letsBONK.fun retains a seven-day revenue lead. The rivalry highlights the volatile yet lucrative nature of meme coin ecosystems on Solana.
SEC Rules Liquid Staking Activities Outside Securities Regulation
The U.S. Securities and Exchange Commission has issued new guidance that could exempt certain liquid staking activities from securities regulations. This decision marks a pivotal moment for the cryptocurrency industry, particularly for protocols involving staked assets and their derivative tokens.
Industry leaders including Jito Labs, Bitwise Asset Management, and VanEck had previously petitioned the SEC to allow liquid staking tokens in proposed Solana-based exchange-traded products. The regulator's Division of Corporation Finance clarified that under specific conditions, liquid staking receipts may not constitute securities under federal law.
SEC Chairman Paul S. Atkins emphasized the agency's commitment to providing clear regulatory frameworks for emerging financial technologies. The guidance specifically addresses tokens representing staked assets and their rewards, potentially creating new opportunities for SOL and other proof-of-stake cryptocurrencies.
