Solana’s been quietly putting in the work. No hype, no wild swings, just steady signs of strength building under the surface. Solana’s realized cap has flipped positive, $250M freshly minted USDC, and technical setups are forming clean structures.

Solana’s Realised Cap Turns Positive

After several months of capital outflows, Solana is starting to quietly turn the tide. According to Glassnode, its 30-day realized cap has finally flipped back into positive territory, showing 4–5% growth. While XRP also reflects a similar percentage increase, Solana’s rebound stands out more sharply, especially considering its prior downturn was steeper.

Solana’s realized cap turns positive with 4–5% growth, hinting at early signs of capital rotation. Source: Glassnode via X

The 4–5% uptick in realized cap growth may not seem dramatic, but it’s the kind of steady change that often flies under the radar before sentiment catches up. These are the phases where smart capital typically starts repositioning for a possible shift in the trend.

$250M in USDC Minted on Solana

Following signs of returning confidence in Solana’s capital inflows, on-chain activity is adding another positive factor. In a recent development shared by SolanaFloor, Circle just minted $250 million in USDC directly on Solana, a clear sign that fresh liquidity is being positioned into the ecosystem. Events like this tend to reflect backend confidence, often from institutions.

Circle mints $250M in USDC on Solana, signaling increasing institutional confidence. Source: SolanaFloor via X

This mint comes at a time when Solana’s realized cap momentum is already starting to lean positive. Combined, these data points show that liquidity is being deployed. It may not move markets overnight, but it adds real weight to the idea that Solana is re-entering a phase of broader ecosystem growth.

SOL Approaches $200 as Breakout Structure Retests

As liquidity re-enters the Solana ecosystem, price action is beginning to reflect that shift on the charts. According to Crypto Zeinab, SOL recently tagged the $180 mark and is now in a short-term retest, pulling back to confirm support at a key breakout level. The structure forms a clean inverse head-and-shoulders pattern, a classic reversal setup that hints at deeper strength behind the recent move.

Solana retests breakout neckline after tagging $180, setting sights on the $200 resistance zone. Source: Crypto Zeinab via X

SOL Solana price is currently reacting around the neckline zone, and if this retest holds, it could pave the way toward $200 as the next key resistance. The breakout aligns with improving on-chain signals and capital flows.

Solana’s Price Structure In An Ascending Channel

Solana is making moves on the technical front. A fresh look at the 4-hour chart shared by Satoshi Flipper reveals a steady ascending channel that’s been forming over the past few days. Satoshi Flipper believes that the price is currently rebounding from the lower boundary of the channel, and if this rhythm continues, the upper range, which is near $190, could be the next logical target.

Solana trades within an ascending channel, eyeing the $190 to $200 zone as bullish structure holds. Source: Satoshi Flipper via X

What makes this setup interesting is how it builds on what we’ve already seen developing behind the scenes. Now, with price respecting clean technical levels, if this channel holds, SOL Solana price will move towards the $190 to $200 zone.

Solana Liquidation Heatmap Reveals Clear Skies for Bulls

While the ascending channel remains intact and momentum builds, new data from 5.0 Inverted.bear liquidation heatmap adds another positive trigger. The map shows very little liquidation interest stacked below the current Solana price level, meaning there’s not much incentive for sellers to push the price down. This kind of setup often creates a clear platform for the bulls to exploit.

Solana’s liquidation heatmap shows minimal sell pressure below current levels, supporting a bullish run toward $190–$200. Source: 5.0 Inverted.bear via X

Linking this with the previous technical breakout and the $250M in fresh USDC minted on-chain, it all begins to line up. The current layout puts the $190 to $200 mark well within reach for a cautious but confident Solana price prediction.

Final Thought

Solana’s recent momentum feels less like a short-term bounce and more like the early stages of a broader recovery. With solid backing from both on-chain data and technical patterns, the foundation for a meaningful move is taking shape. The lack of major liquidations below current levels reduces downside pressure, giving bulls more freedom to push.

---

Filed under: Bitcoin - @ May 16, 2025 11:25 am