Is Solana (SOL) Ready to Surge? Three Bullish Signs Not to Ignore

Updated

April 21, 2025

Gambar Is Solana (SOL) Ready to Surge? Three Bullish Signs Not to Ignore

Jakarta, Pintu News – Solana seems to be gearing up for a rally that many traders may not have expected. With the cup and handle pattern almost reaching a critical point, as well as increased activity in the DeFi sector and accumulation by whales, there are some strong indications that Solana (SOL) could experience a significant price increase.

Cup and Handle Pattern: Is it Time to Fly?

Solana (SOL) recently broke out of the downtrend line that had formed the basis of the classic cup and handle pattern. Currently, the pattern is approaching its neck resistance at $144.40. If successfully crossed, this could trigger a continuation of the upside momentum. Currently, the price is around $139, which puts the bulls close to a key breakout trigger.

A strong close above the neckline could confirm this pattern and open up opportunities towards higher levels such as $179.48. Meanwhile, failure to break out could result in another consolidation phase in the $135-$140 range. This pattern suggests that Solana (SOL) has potential that has yet to be fully recognized by the market, and a successful breakout could be very profitable for investors who pay attention to this signal.

Also Read: Bitcoin Continues to Thrive Amid Crypto Market Fears: The Impact of Inflation Fears on Crypto

Market Dynamics: Is Solana’s (SOL) Momentum Underestimated?

While price action and whale behavior were positive, data from the derivatives market showed a different story. The OI Weighted Funding Rate fell to -0.0116% on April 20, signaling that short traders are starting to dominate the perpetuity futures market.

However, this distrust is often the start of a short squeeze when combined with strong spot accumulation. Moreover, spot flows showed a more constructive picture. On April 20, inflows totaled $96.27 million, slightly higher than outflows which amounted to $88.36 million. Although the difference looks small, the consistent inflows indicate persistent accumulation by market participants, which adds weight to the bullish thesis for Solana (SOL).

DeFi Growth: Will It Strengthen Solana’s (SOL) Breakout Potential?

DeFi activity on the Solana network also supports the bullish case. Total Value Locked (TVL) on the network increased by 3.11% in 24 hours, pushing the value above $9.018 billion. This increase in protocol activity suggests that Solana (SOL) is starting to regain market relevance, especially among liquidity providers and decentralized application users.

As capital begins to rotate into blockchain ecosystems that demonstrate real use, Solana’s strong DeFi rebound supports the broader bullish case. It shows that there is more than just speculation behind potential price increases, but also growing adoption and usage.

Conclusion: Will the Whale and DeFi Momentum Push SOL Higher?

With growing whale ownership, solid spot inflows, and reviving DeFi activity, the market structure for Solana (SOL) is looking increasingly favorable. Although the Funding Level still shows doubts, it could be the perfect contrarian indicator.

A clean breakout could turn selling pressure into momentum, pushing prices towards $179.48. However, the bulls must first confirm control by reclaiming resistance and maintaining volume.

Also Read: Cardano Price Explosion Potential According to Analysts: Repeat 2021 Surge, Target $16?

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.