Solana (SOL) Experiences Notable Price Recovery After Hitting a 12-Month Low

(SOL) is experiencing a notable price recovery after hitting a 12-month low, with the cryptocurrency now trading at $134.72.

Solana (SOL) price has shown notable recovery from its 12-month lows, currently trading at $134.72 as market analysts observe key resistance levels amid growing institutional adoption and strong on-chain support.

Recent price movements highlight Solana testing critical support at $130 and aiming to breach the $144 resistance. If successful, many analysts believe this could open the path to the $170-$180 range.

According to Glassnode data, the largest concentration of Solana holders purchased tokens at $129.79, with over 32 million Solana being transacted at this price point. This massive accumulation creates a solid foundation for potential rebounds if markets face downward pressure.

#Solana’s URPD shows a major shift in cost basis over the past two days, forming the largest supply cluster (>5%) at $129.79 with over 32M $SOL. This zone could act as support during future drawdowns, reflecting high investor engagement at this price level. pic.twitter.com/mrunKSjKZL

— glassnode (@glassnode) April 15, 2025

The cryptocurrency recently experienced volatility due to liquidations at $100 in April 2025. However, the strong support at $130 has helped stabilize prices as the market recovers.

While the cryptocurrency has shown resilience against recent market trends, remaining in a limited trading range, any significant price movements in either direction could be driven by several factors, including macroeconomic trends, regulatory changes, and changes in demand from both retail and institutional investors.

The recent activity in the Solana meme coin ecosystem on Axiom and PumpSwap highlights the potential for meme coins to drive broader market trends. As the meme coin market continues to develop, it will be interesting to see how these trends play out and impact the broader cryptocurrency landscape.

As institutional acceptance grows and on-chain metrics show strengthening support, Solana is likely to remain a cryptocurrency to watch as it navigates the market and potentially moves towards new price highs.