Solana Price Prediction: V-Shape Breakout + Exploding Onchain Activity – Is a New ATH Next?
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Solana (SOL) has come roaring back to life over the past two months, gaining over 86% from its April 7 lows in a powerful rebound that’s riding the coattails of a wider altcoin surge. Solana’s on-chain metrics are surging, underpinning its recent price strength.
According to DeFiLlama, Solana’s total value locked (TVL) jumped more than 54% since April 7, rising from $6.12 billion to a robust $9.44 billion as of May 26. The network is now second only to Ethereum in terms of TVL and even surpasses the collective TVL of Ethereum’s major layer-2 networks like Arbitrum, Optimism, and Base.
The Solana meme coin market has also been heating up. Despite recent pullbacks, meme coin activity has surged, with market capitalization ballooning 65% from $8.1 billion to $13.4 billion between April 8 and May 26.
Solana Technical Analysis: V-Shaped Recovery
On the weekly chart, SOL is painting a textbook V-shaped recovery, a bullish pattern indicating a sharp rebound from a steep decline. This formation began in January and is now approaching a critical resistance zone between $180 and $200.
If SOL can breach this key supply-demand area, the neckline of the V-shaped formation sits around $252, offering a clear short-term target. From the current price near $176, that would be a 43% rally.
Beyond that, SOL’s all-time high (ATH) at $295+ looms as the next major milestone – a 66% gain from current levels.
Solana 1D Price Chart. Source: TradingView
The Relative Strength Index (RSI) on the weekly timeframe is hovering around 53, suggesting neutral-to-bullish momentum with plenty of room to rise before hitting overbought territory above 70.
Meanwhile, the MACD shows a fresh bullish crossover. The MACD line has crossed above the signal line with expanding histogram bars, confirming upward momentum is building after weeks of consolidation.
This Solana-Based Project Just Raised $41 Million in Presale
As Solana ($SOL) pushes toward new all-time highs, a powerful Layer 2 solution is capturing serious attention: Solaxy ($SOLX).
Solaxy is more than just a scaling tool – it supercharges the Solana ecosystem by enhancing transaction speed, slashing fees, and eliminating network congestion.
Source: Solaxy
By processing transactions off-chain and bundling them for lightning-fast validation, Solaxy is setting the standard for next-gen Web3 performance.
With modular plug-and-play tools, it empowers developers to launch ultra-efficient dApps in record time.
Investors are taking notice – $41 million has already poured into the Solaxy presale, with just 20 days left until the end of the presale.
The project also rewards $SOLX holders with staking rewards that stand at a whopping 98% currently.
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