TLDR
- Solana is trading around $146, maintaining stability after recent price surges
- A critical security vulnerability was successfully patched, though sparked centralization debates
- Institutional confidence growing with BitGo partnership and Upexi Inc.’s purchase of 45,733 SOL tokens
- Technical indicators suggest upward momentum with key resistance at $150
- Targets between $170-$185 possible if SOL breaks above current resistance levels
Solana (SOL) is currently trading around the $146 mark, holding steady after a period of strong upward movement. The cryptocurrency has caught the attention of investors as it approaches a key resistance level at $150, with technical indicators suggesting potential for further gains.
Recent price action shows SOL maintaining stability despite market fluctuations. This steadiness comes after bouncing off support zones between $134 and $140, indicating a possible bullish reversal pattern.
The network recently addressed a critical security vulnerability discovered on April 16. The zero-day vulnerability could have allowed attackers to create false proofs affecting Solana’s Token-22 secret tokens, potentially enabling unauthorized token minting and withdrawal from user accounts.
Development companies Anza, Firedancer, and Jito led the patch deployment. The Solana Foundation has confirmed that the vulnerability has been fixed and all funds are safe, with no known exploitation occurring.
Within approximately two days of discovery, a super majority of validators applied the remedy. This quick response demonstrates the network’s ability to handle crisis situations effectively.
SOL Price
Rising Institutional Interest
Institutional interest in Solana continues to strengthen, highlighted by strategic partnerships and investments. BitGo recently announced a collaboration with SOL Strategies to expand Solana staking activities, combining BitGo’s security architecture with SOL Strategies’ expertise in running institutional-grade Solana validators.
This partnership comes at a critical time as institutional demand for Solana staking grows following the approval of Solana futures ETFs in the United States. BitGo serves more than 2,000 clients across 90 countries and has recognized SOL Strategies’ expertise in operating high-performance Solana validators.
In another strong show of institutional confidence, NASDAQ-listed corporation Upexi Inc. reportedly purchased 45,733 SOL tokens valued at approximately $100 million through its treasury management. This substantial investment marks one of the most important institutional investments in Solana to date.
On-chain data reveals major whale accumulation, with one large holder recently staking almost 194,000 SOL (worth about $28.7 million). This commitment demonstrates strong conviction in Solana’s long-term viability from sophisticated market players.
Technical Analysis Points to Breakout Potential
The technical outlook for Solana appears positive. SOL has formed a consolidation pattern slightly below the crucial $150 resistance level. On the daily chart, a recent breakout above the Ichimoku Cloud indicates increasing bullish momentum that could drive prices toward the $160 target.
Rising trading volumes support the possibility of a successful breakout above current resistance levels. Technical experts project additional upside potential with targets between $170 and $185 if SOL manages to convert the $150 zone from resistance to support.
Some analysts offer even more optimistic longer-term targets at $260 and $320. However, not all share this bullish outlook. Some technical analysts believe SOL might need to retest support in the $140-$135 range before establishing a sustainable recovery above $150.
The increase in open interest in Solana futures also supports this bullish outlook. From early 2024, both Solana’s price and open interest have increased in tandem, signaling growing confidence in the asset’s future performance.
As Solana’s price surged from $50 in early 2024 to around $146 currently, open interest also saw a major rise. This correlation between price and open interest is often viewed as a bullish signal.
SOL’s price action appears connected to increasing global liquidity. Tracking SOL against M2 money supply reveals a clear trend: Solana’s price often correlates with rising global liquidity.
This relationship suggests that the current liquidity environment may support further price increases. As global money supply continues to expand, Solana seems positioned to benefit from these macroeconomic tailwinds.
Solana’s outstanding network performance in Q1 2025 helps reinforce the positive sentiment. According to Glassnode data, Solana exceeded all other blockchain systems—including Ethereum—in terms of protocol revenue in the first quarter of the year.
This success highlights Solana’s increasing economic activity and monetization, suggesting that despite market volatility, the network’s fundamentals are improving.
While the patch handling for the security vulnerability has sparked debates about network centralization, Solana continues to show resilience. Critics have questioned the communication channels between the Solana Foundation and validators, pointing to their coordination as evidence of centralization issues.
Anatoly Yakovenko, CEO of Solana Labs, defended the approach by comparing it to how Ethereum would handle similar situations. However, Ethereum proponent Ryan Berckmans objected to this comparison, noting that Solana currently relies heavily on one production-ready client.
For now, the $150 level remains the biggest obstacle to watch. With a successful breakout above this level, momentum could accelerate toward the $160 target and beyond to the $170-$185 resistance zones.
