Solana (SOL) Price Prediction & Analysis: Money Flows from ETH to SOL, What’s Next?

TLDR

Solana (SOL) is trading at $148.35, with a 7.06% increase in 24 hours and 17% weekly gain Galaxy Digital moved $105 million from Ethereum to Solana, signaling institutional shift SOL has overtaken Ethereum in DEX volume ($500B vs $400B) and active addresses (220M vs 80M) Technical indicators show bullish momentum with ADX at 100, though RSI at 76.32 suggests overbought conditions Major whale activity includes a holder with 1.29 million SOL ($180M) who recently unstaked 100,000 SOL

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Solana (SOL) has pushed through key resistance levels to reach $148.35, marking a 7.06% increase in the last 24 hours and an impressive 17% rally over the past week. The cryptocurrency’s trading volume surged to $4.65 billion, up 17.43%, showing strong market participation and renewed investor confidence.

The price movement comes as institutional players make strategic shifts toward Solana’s ecosystem. Galaxy Digital, a major cryptocurrency investment firm, has made headlines by transferring approximately $105 million worth of Ethereum to exchanges while acquiring 752,240 SOL valued around $98.4 million over a two-week period.

This institutional rotation follows Standard Chartered’s recent downgrade of Ethereum, citing concerns about “structural decline” in the second-largest cryptocurrency by market cap.

Solana (SOL) Price

Network Metrics Show Solana Outpacing Ethereum

On-chain data reveals Solana’s growing dominance in key usage metrics. According to Dune Analytics, decentralized exchange (DEX) volume on Solana exceeded $500 billion in the last three months, compared to Ethereum’s $400 billion.

Active addresses on the Solana network have reached over 220 million, far surpassing Ethereum’s 80 million. These metrics point to rapidly growing adoption and user engagement within the Solana ecosystem.

The network has also seen renewed interest in its memecoin sector. Fartcoin, a Solana-based memecoin, has unexpectedly surged above $1 with a market capitalization exceeding $1 billion. This has drawn speculators to the network, increasing trading volume across Solana-based platforms.

Whale Activity and Technical Outlook

Major wallet movements have contributed to market interest in Solana. One prominent whale investor now holds approximately 1.29 million SOL tokens valued at $180 million, after staking nearly a million SOL in 2021 at a price of $27 per token.

In April, this whale unstaked 100,000 SOL (worth approximately $14 million) and transferred the tokens to Binance, possibly indicating a partial sale. This coincided with four other accounts having $37 million in staked SOL unlocked, tokens that have since appreciated to over $206 million in value.

From a technical perspective, Solana shows strong bullish signals. The Average Directional Index (ADX) reading of 100 indicates a very powerful trend, while the MACD displays positive divergence.

Although the Relative Strength Index (RSI) sits at 76.32, suggesting overbought conditions, the underlying momentum favors further upside potential. The Bollinger Band expansion of 12.61% points to increased volatility ahead.

Key resistance levels to watch include the $147-$152 range, with support at $138. Traders are advised to exercise caution below the $132 level, which could indicate a shift in momentum.

With Solana briefly leading Ethereum in staking market cap dominance on April 20, the market debate around token distribution and network centralization has intensified.

Short-term signals remain optimistic, though longer-term projections suggest moderation. Changelly projects an average price for Solana in 2025 at $148.66, with an anticipated range of $136.68 to $144.42 for April 2025.

Current volatility measures at 2/10, prompting traders to employ disciplined risk management strategies. Strategic entries in the $138-$141 range on pullbacks are recommended.

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