Altcoin
Solana Price Breaks Key Resistance as Whale Moves $71M SOL
Solana price has reached a crucial price level as it attempts to break out from a descending parallel channel that has limited its movements for weeks. The asset’s latest price action shows signs of upward momentum, with analysts debating whether this breakout is sustainable.
Meanwhile, on-chain data reveal a SOL whale transferred 494,153 SOL, valued at $71.95 million, to Coinbase Institutional, adding further speculation about market movements.
Solana Price Attempts Breakout From Descending Channel
In recent Solana price analysis, technical indicators suggest the asset is challenging key resistance after weeks of downward movement. A descending parallel channel has been restricting its price, but the latest attempt to break above this trendline has drawn attention from traders.
Analyst Ali Martinez shared a chart showing Solana price moving past its downtrend resistance, targeting a potential rally toward $213. If confirmed, this move could indicate a shift from a bearish trend to a more sustained uptrend.
However, analyst Seth maintains a cautious outlook, suggesting that Solana price remains within the broader channel, facing resistance at crucial levels.
Whale Transfers 494,153 SOL to Coinbase Institutional
Additionally, blockchain tracking platform Whale Alert reported a SOL whale moving 494,153 SOL, worth approximately $71.95 million, to Coinbase Institutional. Large-scale transfers of this magnitude often attract market attention, as they may indicate either selling pressure or institutional accumulation.
If the transferred SOL is intended for liquidation, it could introduce selling pressure, potentially affecting the ongoing breakout attempt. However, if the transaction is related to over-the-counter (OTC) trading or institutional accumulation, it may signal increased demand, which could support further upward movement.
According to recent Solana whale activities, SOL price might be headed for a breakout to $180. A whale’s $14 million accumulation eased selling pressure, supporting the recent rebound to $145. If momentum sustains, breaking the $170 resistance could pave the way for a SOL rally toward $180.
Buyers Return as SAR and MACD Suggest a Breakout
Meanwhile, Solana price technical indicators have also turned bullish, supporting the potential breakout. The Parabolic SAR (Stop and Reverse) indicator, represented by the dotted blue lines, has shifted below the price candles, signaling a possible trend reversal to the upside. This suggests that selling pressure is weakening and buyers are regaining control, increasing the likelihood of a sustained price recovery.
The Moving Average Convergence Divergence (MACD) and Histogram further reinforce this bullish sentiment. The MACD line has started converging toward the signal line, reducing the bearish momentum. Additionally, the histogram bars have begun turning green, indicating a potential crossover into positive territory. This shift suggests that buying pressure is building up, which could support an upward move toward $170 and possibly $180 if resistance levels are breached.
However, historical resistance between $175 and $185 remains a significant test for the asset. To confirm a true breakout, Solana price needs to maintain high-volume closes above these levels. Failure to do so may result in a rejection, pushing the asset back into the descending channel.
More so, the Solana network has outpaced Ethereum in terms of active users and transaction efficiency. This has lead to speculations that SOL price could hit $500 before ETH price reaches $5,000. With 73.4 million monthly active addresses compared to Ethereum’s 7.4 million, Solana’s adoption rate suggests strong upside potential. If this growth trend continues, analysts believe SOL could outperform ETH in the near term.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Egrag Crypto has predicted that the XRP price could rally to as high as $45 if it mirrors a bullish price movement from the 2017 bull run. The analyst also raised the possibility of the altcoin at least touching $19 if it replicates the 2021 price action.
XRP Price Could Rally To $45 If It Mirrors 2017 Bull Run
In an X post, Egrag Crypto predicted that the XRP price could rally to $45 if it mimics the 2017 cycle. He noted that in 2017, the price found heavy support at the 21 Exponential Moving Average (EMA) and experienced a last blow-off top.
This blow-off top led to a price surge of 2,700%, which the analyst believes could lead to XRP’s rally to $45 if the 2017 bull run repeats itself. Meanwhile, Egrag Crypto predicts the altcoin could at least touch $19 if a similar price movement like the 2021 bull run occurs.
He noted that in 2021, the price breached the 21 and 33 EMA and then pumped in a final leg that marked the cycle’s blow-off top. During this period, XRP surged by 1,050%, which the crypto analyst believes could lead to a rally to $19 if history repeats itself. The analyst added that his target has always been $27 and advised market participants to DCA if necessary.
In the short term, the XRP price looks to be eyeing a rally to $5. A CoinGape market analysis revealed that the Hidden Road acquisition may lead to $10 billion in volume to the XRP Ledger, which could push the altcoin to this target.
Meanwhile, XRP’s on-chain metrics also paint a bullish outlook for the altcoin, with the number of wallet addresses hitting a new all-time high (ATH) recently. This indicates that Ripple’s native crypto is enjoying wider adoption.
Ripple’s Native Crypto Has The Potential To Hit $1,000
Crypto analyst BarriC asserted that the XRP price could hit $1,000, although he admitted that it would “absolutely” take time. He claimed it will take a utility run and mass adoption to drive XRP to this price target.
The analyst added that it would also take a big shift in the financial space for the altcoin to reach this $1,000 level. Essentially, BarriC believes something massive has to happen for XRP to reach this target. However, once they do, he assured that there is no going back.
A CoinGape market analysis also once suggested that the XRP price could reach $1,000 if Michael Saylor swapped his $21 billion BTC for Ripple’s native crypto.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The price of Solana (SOL) is again in the spotlight as the current bullish consolidation has flipped the coin to a new weekly high. The Solana community also anticipates the Exchange Traded Fund (ETF) tied to the asset, prompting the debate on the potential timeline for the offering’s approval. With the price of Bitcoin and altcoin showcasing a rebound, Solana’s performance has stood out from other altcoins.
Is The Solana Price Breakout to $200 Possible?
According to new insight on X from market analyst World of Charts, the price of Solana is currently testing a potential breakout trend. He said the coin is testing crucial resistances that can easily push it to the $200 level if it successfully breaks out.
The World of Charts thesis tips the SOL price to soar by over 86%, with the potential to add $105 in a bull case scenario. However, this does not negate a possible SOL price retest of $75 if crucial support levels fail to hold.
At the time of writing, the price of Solana was changing hands for $120, up by 8.06% in 24 hours.
Despite the Relative Strength Index (RSI) soaring from the low of 34 recorded on April 8 to the current 46.89, SOL is not completely out of the woods. The MA Cross indicator shows that the Death Cross inked on April 2 has yet to be invalidated.
Solana ETF: Potential Approval Timeline
With Solana showcasing a potential rebound trend, many community members are quizzing to determine what will happen to its growing ETF products. Responding to SOL ETF approval queries, Senior Bloomberg ETF Analyst James Seyffart broke the silence on what to expect.
He reiterated that the first ‘final’ deadline for SOL ETFs is October 10. He noted that there is a non-zero chance the new Atkins-led US SEC and Hester Peirce-led Crypto Task Force will move earlier than that.
Despite this definitive timeline, he reiterated that there is a strong expectation of approval by that deadline. In the meantime, the Crypto Task Force is pushing for clear regulations, which is positive for a potential approval.
A Solana ETF could usher in institutional money into the ecosystem, which is bullish for the SOL price, leading to a massive breakout.
More SOL Fundamentals to Watch
According to a recent ecosystem shift, the Proof-of-Stake (PoS) protocol is undergoing a subtle rebranding in the market. Besides introducing Confidential Balances to drive privacy, Solana Developers have also unveiled Open Source Relayers. In partnership with OpenZeppelin, these Relayers are in alpha mode and can power some functionalities within the ecosystem.
A defined attempt to revive the memecoin outlook in the SOL ecosystem through PumpFun also exists. With the return of the livestream, PumpFi, and PumpSwap, the protocol is gearing up for a new wave of meme explosion and price rebound.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The crypto market in 2025 is facing intense turbulence. The capitalization of once-hot trends like meme coins has plummeted. Capital has flowed out of decentralized finance (DeFi) protocols, driving DeFi’s total value locked (TVL) down from $120 billion to around $87 billion.
In this context, Sonic stands out. It has consistently hit new TVL highs, reaching $1 billion in April after growing nearly 40 times since the beginning of the year. So, what makes Sonic a bright spot amid a stormy market?
Investors Are Pouring Capital into Sonic
Sonic has made its mark with a rapid TVL growth rate, far outpacing better-known blockchains. According to DefiLlama, Sonic reached $1 billion in TVL within 66 days. In comparison, Sui took 505 days, and Aptos needed 709.
This achievement reflects strong capital inflows into the Sonic ecosystem despite the broader DeFi trend of capital withdrawal. Data from Artemis supports this, ranking Sonic as the second-highest netflow protocol this year—trailing only Base, a blockchain backed by Coinbase.
The growth goes beyond TVL numbers. Sonic’s ecosystem is attracting various projects, including derivatives exchanges like Aark Digital and Shadow Exchange and protocols such as Snake Finance, Equalizer0x, and Beets. These projects still have small TVLs, but they have the potential to draw new users and capital, fueling Sonic’s momentum.
However, the question remains: Can this capital inflow remain sustainable while the market fluctuates?
Andre Cronje on Sonic’s Potential and Strengths
Andre Cronje, the developer behind Sonic, shared his ambition in an interview to push this blockchain beyond its competitors.
“Sonic has sub-200 millisecond finality, faster than human responsiveness,” Andre Cronje said.
According to Cronje, Sonic isn’t just about speed. The platform also focuses on improving both user and developer experience. He explained that 90% of transaction fees go to dApp, not to validators, creating incentives for developers to build.
Unlike other blockchains, such as Ethereum, which are limited by long block times, Sonic leverages an enhanced virtual machine that theoretically processes up to 400,000 transactions per second. Cronje acknowledges, however, that current demand has yet to push the network to its full capacity. Still, these technical advantages make Sonic a compelling option for developers seeking more user-friendly dApps.
He also revealed new features on Sonic that have the potential to attract users.
“If your first touch point with a user is to download this wallet and then buy this token on an exchange, you’ve lost 99.9% of your users. They’ll use their Google off-email password, fingerprint, face, whatever it is, to access the dApp and interact with it, and they’ll never need to know about Sonic or token,” Andre Cronje revealed.
Risks and Challenges Ahead
Despite reaching impressive milestones, Sonic is not immune to risk. The price of its token, S, has declined significantly from its peak. According to BeInCrypto, it has dropped around 20% in the past month—from $0.60 down to $0.47—mirroring the broader market’s volatility.
Furthermore, Grayscale recently removed Sonic from its April asset consideration list. This decision reflects a shift in the fund’s expectations and raises concerns about Sonic’s ability to maintain its TVL should investor sentiment deteriorate.
Sonic also faces fierce competition from other high-performance chains like Solana and Base. Although Sonic holds a clear advantage in speed, long-term user adoption will depend on whether its ecosystem can deliver real value, not just high TVL figures.
Disclaimer
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