In the past week, the Solana (SOL) cryptocurrency has gone up by as much as 13%, reclaiming the $118 level and going even higher. Currently trading around $130, the asset is testing new upper resistance levels on the road to reclaiming a new high. SOL is even outperforming some of the best cryptocurrencies on the market, including Bitcoin and Ethereum.

Despite the rally, SOL’s price is down 3.7% since April 2024. Bitcoin (BTC), on the other hand, has rallied 1.3% in the daily charts and 3% in the weekly charts. Ripple’s XRP token has risen 1.7% and 4.7% in the same time frames. There is a sense of renewed optimism around the Solana token. Thus, analysts are projecting the next resistance level that SOL breaches.

Solana’s (SOL) rally comes amid a larger cryptocurrency market resurgence. Bitcoin (BTC) has reclaimed the $84,000 price level after its recent descent to sub-$75,000 levels. The global crypto market cap has also risen to $2.76 trillion. After months of decline, the cryptocurrency market is trending upwards, with bulls also buying into several top coins.

Also Read: Shiba Inu Vs. Pepe: Which Will Reclaim Its All-Time High First?

Solana SOL had a successful 2024, to say the least. The asset hit multiple all-time highs and outperformed most of the top crypto coins by market capitalization. SOL’s price soared to a peak of $293.31 on Jan. 19. Despite this, the asset’s price has fallen by 54.2% since its January highs. The start of 2025 reversed all of SOL’s momentum from 2024, as at press time, the asset is down 4% in the last 365 days. However, the low prices could prove to be an excellent entry point for new investors who prefer to buy the dips on popular assets.

According to analysts at CoinCodex, SOL may continue its bullish trajectory over the next few weeks. The platform anticipates the asset to hit $150.38 on May 17. SOL’s price will face an 11.91% rally if it hits the $150.38 target. CoinCodex does not anticipate SOL’s price to hold at $150. The platform predicts SOL will face a correction to below $130 soon after it hits $150.

In the past week, the Solana (SOL) cryptocurrency has gone up by as much as 13%, reclaiming the $118 level and going even higher. Currently trading around $130, the asset is testing new upper resistance levels on the road to reclaiming a new high. SOL is even outperforming some of the best cryptocurrencies on the market, including Bitcoin and Ethereum.

Despite the rally, SOL’s price is down 3.7% since April 2024. Bitcoin (BTC), on the other hand, has rallied 1.3% in the daily charts and 3% in the weekly charts. Ripple’s XRP token has risen 1.7% and 4.7% in the same time frames. There is a sense of renewed optimism around the Solana token. Thus, analysts are projecting the next resistance level that SOL breaches.

Solana’s (SOL) rally comes amid a larger cryptocurrency market resurgence. Bitcoin (BTC) has reclaimed the $84,000 price level after its recent descent to sub-$75,000 levels. The global crypto market cap has also risen to $2.76 trillion. After months of decline, the cryptocurrency market is trending upwards, with bulls also buying into several top coins.

Also Read: Shiba Inu Vs. Pepe: Which Will Reclaim Its All-Time High First?

Solana SOL had a successful 2024, to say the least. The asset hit multiple all-time highs and outperformed most of the top crypto coins by market capitalization. SOL’s price soared to a peak of $293.31 on Jan. 19. Despite this, the asset’s price has fallen by 54.2% since its January highs. The start of 2025 reversed all of SOL’s momentum from 2024, as at press time, the asset is down 4% in the last 365 days. However, the low prices could prove to be an excellent entry point for new investors who prefer to buy the dips on popular assets.

According to analysts at CoinCodex, SOL may continue its bullish trajectory over the next few weeks. The platform anticipates the asset to hit $150.38 on May 17. SOL’s price will face an 11.91% rally if it hits the $150.38 target. CoinCodex does not anticipate SOL’s price to hold at $150. The platform predicts SOL will face a correction to below $130 soon after it hits $150.