Solana (SOL) Price: Technical Pattern Suggests Potential Breakout to $155

TLDR

• Solana’s stablecoin supply has increased by 156% in 2025, reaching a record $13 billion
• Recent whale transfers totaling over $200 million in SOL have been observed
• SOL is currently trading near $144, consolidating between support at $136.14 and resistance at $155.28
• A “cup and handle” pattern and bull flag formation suggest potential price targets of $155 and $220
• Solana leads in DEX volume with 27.7% market share, ahead of Ethereum and BNB Chain

Solana has shown mixed price action in recent days. At press time, SOL was trading at $143.96, down 0.90% over 24 hours.

The cryptocurrency is currently in a consolidation phase, trading between key support at $136.14 and resistance at $155.28.

Technical analysis reveals a potential “cup and handle” pattern forming. This pattern, combined with a bull flag formation visible on daily charts, suggests breakout potential.

If SOL can break above the $155.28 resistance level, analysts see a path toward $220, representing a 53% increase from current prices.

Traders should watch for volume confirmation and sustained price action above resistance to validate any breakout.

Solana Price on CoinGecko

Whale Activity and Social Sentiment Rising

Recent whale movements have caught market attention. Two massive transfers totaling over $200 million in SOL were recorded from unknown wallets.

These large transfers often signal potential market shifts, as they can lead to increased buying or selling pressure depending on the intentions behind the moves.

Social volume metrics show growing retail interest in Solana, though social dominance remains moderate at 3.94%. This indicates rising popularity but suggests the asset hasn’t yet reached peak market attention.

If social interest continues to grow, it could attract more retail investors, potentially driving prices higher in the near term.

Stablecoin Growth and DeFi Ecosystem

Solana’s stablecoin supply has experienced remarkable growth, increasing by 156% in 2025 to reach a new all-time high of $13 billion.

Circle’s USDC dominates the Solana stablecoin market with a 77% share. These stablecoins are vital to Solana’s DeFi ecosystem, providing liquidity and increasing demand for SOL.

Historical data shows a correlation between stablecoin inflows and price rallies. Between December 2023 and August 2024, a 230% rally in SOL price coincided with a 160% increase in stablecoin inflows.

DeFi Leadership and Growing Transaction Volume

Solana remains the second-largest blockchain by total value locked (TVL) and leads in decentralized exchange (DEX) volumes.

The network’s TVL has grown from $6.1 billion on April 9 to $7.65 billion on May 6, representing a 25% increase in nearly 30 days.

Daily transaction count has also risen by 25% over the last month, reaching 57.77 million transactions.

Solana commands 27.7% of DEX volume market share, putting it ahead of both BNB Chain and Ethereum. Daily DEX volumes on Solana stand at $2.61 billion.

Derivatives and Liquidation Data

The derivatives market for Solana has seen increased activity, with $9.35 billion traded in 24 hours, marking a 12.88% increase.

Options volume rose sharply by 411.70%, and Options Open Interest grew by 21.19%. These metrics suggest traders expect major price movement soon.

Liquidation data shows $3.57 million in SOL positions liquidated in 24 hours, with long positions being liquidated more than short positions. This indicates some short-term selling pressure.

Major exchanges like Binance and OKX have seen increased liquidations, contributing to market volatility.

While these liquidations suggest caution in the short term, they may create entry opportunities for those looking to establish positions.

The technical picture shows SOL price in a descending channel but compressing within its range. Bull flag patterns typically resolve with a break above the upper trendline.

If Solana holds support levels between $120-$130 and breaks above resistance at $155.28, analysts see a path toward targets of $178 and potentially $220.

For now, Solana continues to consolidate as traders watch for confirmation of the next major move.