The post Solana Price Analysis and Forecast: Deviation or Market Breakout? appeared on BitcoinEthereumNews.com.

Solana network has recorded a spike in demand from institutional investors amid anticipated approval of U.S. spot SOL ETF. SOL price has regained 50-day SMA as a support level and now eyes $180 next. 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. Midterm Expectations for Solana Price  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. Fundamental Outlook 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…

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Filed under: News - @ May 2, 2025 2:24 am