Solana (SOL) Price Prediction: Will the Current Rally Continue?

The Solana rally is a contribution of mixed factors, including the long-awaited Firedancer upgrade is about to be released later this year.

Solana coin is again in the top watchlist with its impressive 35% growth in the last 30 days, making SOL break the long-time resistance block of $180. Currently trading at $180, the altcoin has now recorded two potential retests and confirmations. One at $179.7 and another at $180.49, the fresh one $183 was recently tested and is yet to be confirmed for a strong bullish ride above $200.

What’s Fueling the Solana Rally?

The Solana rally is a contribution of mixed factors, including the long-awaited Firedancer upgrade is about to be released later this year. The upgrade is proposed to offer a transaction speed of 1 million per second, reducing the downtime.

Solana recently surpassed the entire Ethereum layer 2 networks TVL by hitting the TVL of $10.9B, placing itself in second position after the Ethereum Mainnet network. This TVL growth is attributed to a rise in TVL of some of the key Dapps of the Solana ecosystem as observed in the last.

Addon to this on-chain growth, Solan records a whopping network free of around $43 million, 109% monthly growth, surpassing Ethereum and Tron networks at $24.9 m and $51.9 million, respectively. This kind of growth shows increased network usage and DeFi activity.

Upholding by the Solana memecoin rally, we can see Bonk, WIF, Popcat, Fartcoin, Peanut, Moodeng, and Most of them dumping.

The Solana institutional interest doesn’t stop after being listed on the United States’ strategic crypto reserve; the SEC approval of Solana ETF is a key event to watch.

Solana Price hints at above $250

As we see the SOL/USDT Chart, Solana flipped the $147 resistance to support a week ago and now faces resistance at $185. The current momentum is in favour of bulls to take Solan gain above 40% more with a break beyond $160+. In 2025, Solana visited the low of $95.13, showing a sharp falling wedge breakout.

This Bullish reversal turned the tables for Solana, the SOL price is now above the 200 EMA of $162, and $165 of 50% fibonacci retracements. We can also have a positive crossover in 50 and 100 EMA and the RSI at 61.35 facing downward from the Overbouhgt region.

If the Current market conditions assist, Solana could break above the current resistance of $185 to trade near the next at $201. If the altcoin loses momentum, the 200 EMA remains key support $162.