Solana Builds a Bullish Case to Reach $200-Here’s How it May Trigger a 20% Upswing to Reach $180 This Month
The post Solana Builds a Bullish Case to Reach $200-Here’s How it May Trigger a 20% Upswing to Reach $180 This Month appeared first on Coinpedia Fintech News
In the past couple of years, the Solana price has displayed significant strength, recording 8 bullish months compared to 4 months of loss. The memecoin mania that broke out over the Solana network has kept the trading activity elevated. Besides, Axiom exchange surpasses Pumpfun to become the top revenue-generating protocol on Solana over the past 7 days. Moreover, Solana DApps accumulated more than $162 million in revenue in April, hinting towards a growing ecosystem.
In the times when Solana has been outperforming every other chain in revenue generation for Q1 2025, will SOL price outpace the top tokens and demonstrate a mammoth price action in Q2 2025?
Regardless of the short-term hindrances, the Solana price has been maintaining a strong bullish trend in the long term and flashing massive bullish signals. The price is trying hard to recover and enter the rising parallel channel that it had lost during the recent bearish action. Meanwhile, the weekly CMF, which dropped below 0 for the first time since 2023, has triggered a bullish divergence and is working hard to rise within the bullish range.
On the other hand, the MACD is also supporting a bullish narrative, with the indicator showing a drop in the selling pressure and the levels heading towards a bullish crossover. Therefore, the Solana price is expected to consolidate around $145 for a while as the weekly volume has dropped significantly. Once the volume breaks out, the Solana price is expected to revive a strong upswing and enter the channel that may further help in achieving higher targets, probably at $200.
