BreakoutPotential

The Solana price surges 40% in 10 days, with 71% of traders betting on a bull rally amid increasing institutional interest.

Solana price has recovered recently, with the cryptocurrency experiencing a 40% increase in value over the past 10 days. The $SOL price surge comes as 71% of traders with open positions on Binance are betting on Solana’s upward movement. The rally has sparked increased optimism among investors, with many expecting further gains soon.


Traders Predict Solana Price Bullish Momentum
According to crypto analyst Ali Charts, many traders on Binance are positioning themselves for Solana’s continued upward movement. The data shows that 71.87% of traders with open Solana positions are betting on its price rise. This sentiment aligns with the recent surge in Solana’s value, which has increased by 40% from $95 on April 7 to approximately $133 on April 17.

This growing confidence is reflected in the trading volumes, which soared 33% in the last 24 hours to $4.53 B.
In addition, the rising interest from institutional investors, such as real estate fintech firm Janover, which added over $10 million worth of Solana to its holdings, has also contributed to the bullish sentiment. Moreover, with the launch of Solana-based ETFs in Canada on April 16, optimism for the SOL price rally is continuing to grow.
Institutional Involvement in Solana’s Growth
Solana has recently attracted significant institutional interest, with firms like Janover doubling their holdings. Janover, for instance, purchased 80,567 SOL tokens for $10.5 million, bringing its total treasury to 163,651 SOL. This move, as a result, signals a growing belief in Solana’s long-term potential as an investment asset.
Similar to the playbook of MicroStrategy’s Bitcoin strategy, Janover’s actions suggest that more traditional financial entities are exploring Solana for its growth potential and staking opportunities.
Moreover, the growing institutional adoption of Solana is not just limited to investments but also extends to its infrastructure. Coinbase has recently upgraded its Solana infrastructure to provide faster block processing and improved RPC performance.
Liquidity Inflows Strengthen Solana’s Market Position
Concurrently, another key factor contributing to Solana’s recovery is the increasing liquidity inflow into the network. Data from deBridge shows that over $120 million in liquidity was bridged from other blockchains to Solana over the past 30 days.
Ethereum contributed the largest portion, transferring $41.5 million to Solana. This influx of capital strengthens Solana’s position as a leading blockchain network, supporting its price movement.
The liquidity flow has coincided with a broader resurgence in Solana’s decentralized exchange (DEX) activity. In Q1 2025, Solana led all chains in DEX trading volume, capturing 39.6% of the market share with $293.7 billion in volume. These trends indicate a heightened demand for Solana’s services, fueling investor optimism.
SOL Price Analysis Backs Bullish Breakout
According to an analysis from TradingView, Solana’s price has broken out from a falling wedge pattern, which is typically seen as a bullish signal in technical analysis. This breakout occurred after Solana rebounded from a multi-year support trendline near $95 and moved above the upper trendline of the wedge at $120.
Traders now look toward a potential SOL price target of $200, representing a 50% increase from the current price level. As of press time, the SOL price was trading at $134, a 4.50% surge from the day’s low and 23% up from the weekly low.

In addition, Solana’s Relative Strength Index (RSI) has increased from 33 to 55 since early April, indicating rising bullish momentum. However, for Solana’s price recovery to remain intact, it must maintain support above the 50-day simple moving average (SMA) at $130 and overcome resistance between $160 and $180, where the 100-day and 200-day SMAs lie.

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Following a turbulent start to the year, the cryptocurrency market has seen widespread corrections, with major assets such as Ethereum (ETH) registering their worst first-quarter performance since 2018—declining by over 52% year-to-date. This market-wide weakness has significantly impacted altcoins, including Sui (SUI), which has lost approximately 45% of its value since the beginning of 2025.

However, a shift in macroeconomic sentiment—driven in part by U.S. President Donald Trump’s recent announcement of a 90-day suspension on tariffs—has sparked renewed optimism across global risk assets. Cryptocurrencies have responded positively, with SUI gaining over 8% in the past 24 hours.

A Technical Breakout on the Horizon?

Despite prevailing caution among investors, SUI’s daily chart reveals a potentially bullish development: the emergence of a repeating fractal pattern that could indicate a breakout is approaching.

A closer technical analysis highlights the formation of two prominent falling wedge patterns—one that concluded in mid-2024 and a second currently unfolding. Falling wedges are generally regarded as bullish reversal patterns. Notably, the prior wedge breakout preceded a remarkable 500% price surge over several months.

What strengthens this case is the structural resemblance between the two setups. In both scenarios, SUI’s price has closely followed the 50-day moving average, consolidating within a narrowing range before eventually breaking out. At present, SUI appears to be exhibiting the same behavior, with price action tightening once again near this key moving average.

Highlighted zones on the chart show a striking similarity between the current and previous patterns, suggesting a potential recurrence of bullish momentum.

Outlook: What Comes Next for SUI?

If the current technical setup mirrors past behavior, SUI may be on the cusp of a significant breakout, with potential upside targets exceeding $4 in the near term. A confirmed move above the 50-day moving average would serve as a critical signal of trend reversal and renewed bullish strength.

Conversely, failure to break this resistance could lead to continued consolidation or a short-term pullback. Nevertheless, with improving macroeconomic conditions and rising investor sentiment, the coming days will be pivotal in determining SUI’s direction.

Investors and traders alike are closely monitoring this technical formation as SUI approaches a key inflection point.