Solana is once again stealing the spotlight in the crypto world. Over the past week, its price has soared by 36%, jumping from Monday’s low of $95 to $130. And this wasn’t just a modest uptick — charts lit up in green, and traders watched in disbelief. The big question now: are we at the start of a major breakout, or is this just another fake-out before the next drop?
💥 Bulls Break Through $114 – But the Fight Isn’t Over
The $114 level has carried emotional weight for some time. It marked a clear boundary between weakness and strength — a ceiling that Solana couldn’t crack for weeks. But this week, SOL finally pushed through, reigniting optimism among investors. And it wasn’t just price movement — wallet activity spiked sharply, signaling renewed user engagement.
The 7-day moving average of active addresses surged past the March highs — a key moment. Back then, Solana was hovering around $144, so this rise in usage is not insignificant. Still, the chart tells another story: since January, Solana has formed a pattern of lower highs and lower lows. And the recent $143 level is now the next big test.
To truly break out, the price needs more than a bounce — it needs conviction, volume, and follow-through.
🔥 Speculation Heats Up – All Eyes on the East
Now here’s where things get really interesting: open interest. Since April 8, nearly $1.5 billion has flowed into leveraged positions. That level of interest reflects strong speculative appetite. But speculative trading brings fast profits — and often faster exits.
Another key metric shows that holder profitability is lower than it was earlier in the year. This mirrors conditions last seen in late 2023, when Solana was trading around $40 — a time when the bear market was winding down. Today’s context is different, but the $120–$130 range has acted like a magnet, repeatedly pulling the price back in.
For long-term holders, this latest rebound may feel like a relief — and possibly a chance to take some profits. But this wave of selling could easily cut short the rally, right when bulls need to push hardest.
⚠️ What’s Next? $143 Is the Crucial Line in the Sand
Solana now stands at a crossroads. If it fails to break and hold above $143, a correction remains a real risk. Downside targets of $99 and $85 are still on the table if momentum fades.
On the flip side, if SOL pushes past that key resistance, a much bigger rally could unfold, fueled by user strength and speculative momentum. The pressure is on. Solana is ready to write its next chapter — but the question is, will it explode or fade?
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