Solana (SOL) may eye another price rally in the coming days after a recent recovery. While SOL is still stuck in a consolidation price region, the recent price increase has started to hint toward a more sustained rally. Crucial metrics and indicators have also started to turn bullish, giving traders confidence.

According to CoinGlass, the trading volume of SOL has surged 98.87% over the last 24 hours. This is a massive jump as it shows an astonishing rise in trading activity, with the trading volume currently standing at $6.75 billion. This shows strong positive sentiment among traders as they get more bullish on the coin.

The influx of volume for Solana is witnessed across all top cryptocurrency exchanges. For instance, Binance is leading the way with $2.62 billion in volume. It is followed by Bybit at $1.50 billion, OKX at $1.09 billion, BingX at $549.50 million and Bitget at $167.83 million, among other trading platforms. Overall, these figures reflect the growing confidence in SOL as more gains are expected.

What's happening with Solana's price?

As of press time, SOL is trading at $144.09 with a minor decrease of 0.74% in the last 24 hours. It should be noted that the coin has rallied 10.03% over the last seven days, following a broader recovery on the crypto market. Solana has since surged from $127.46 to a high of $149.91, which is a remarkable surge.

However, it has since corrected to the $144.09 level after facing rejection from the resistance level of $150. Still, the SOL price has shown remarkable performance in the last few days. With the trading volume surging and investor confidence increasing, it is now likely that Solana will set its eyes on the next target, and it may clear the next resistance level this time.