SOL surges on network strength and bullish chart signals

SOL pushed past $150 with an 8% jump, as a spike in trading activity showed real strength in the move. Network usage has picked up alongside it—total value locked is up 25% in the past month, and DEX volumes have nearly doubled, with Sanctum and Raydium seeing most of the action.If that pace holds, the $160–$200 zone is the next real barrier before any shot at a run toward $250.Volume chases speed over structureOpen interest in SOL futures recently climbed to 38.7 million contracts, now worth more than $5.8 billion and ranking third in the market, pulling attention toward presale tokens where price can still move with conviction.In that context, Solana meme coins are back in play, moving in step with the market’s shift toward names that hit fast and don’t wait for structure. Solaxy and Official Trump have already shown how quickly that kind of setup can take hold. Both pushed early, attracted heavy flow, and held momentum while the rest of the market caught up.There was no buildup, just a shift in attention that sent interest skyrocketing before the rest of the market could even react.Network demand kicks back inFresh capital is moving through Solana’s ecosystem again, with total value locked now crossing $8 billion, second only to Ethereum among layer-1 chains. TVL has climbed roughly 25% over the past month, led by platforms such as Sanctum, which saw a 40% jump in deposits.Kamino, Jito, and Jupiter also gained ground as liquidity rotated back into active protocols.The momentum is visible on the trading side too. Since mid-April, DEX volumes have more than doubled, reaching $3.14 billion daily. Solana handled $21.6 billion in decentralized exchange activity over the last week, passing the combined total of Ethereum’s L2 ecosystem.Raydium and Lifinity led the move, both pushing volume sharply higher as attention returned and the market started leaning in again. In the background, long-term capital is already positioning deeper into the ecosystem, adding weight to a shift that now appears deeper than just a bounce.SOL charts a V-Shaped recovery toward key resistanceSince January, SOL has been carving out a textbook V-shaped recovery on the weekly chart—a sharp rebound off the lows that continues to hold its structure. That pattern often signals a bullish reversal, but it only confirms when price clears the upper end of the formation, typically where the sell-side pressure kicks in.For SOL, that zone sits between $160 and $200, right where the 50-day simple moving average now lines up.This is where it gets tested. Price is currently trading just under that key range, and bulls will need to push through it with conviction to open a clear path toward $250.That level marks the neckline of the formation and would complete the V. From there, a move toward all-time highs above $294 is back in play—an increase of nearly 92% from current levels.Momentum is building beneath the surface too. The relative strength index, which sat around 36 at the end of March, has now climbed to 47. It is not overbought, but it is moving in the right direction, and the structure on higher timeframes is starting to catch up with price.At the same time, institutional exposure is catching up with price. Canada’s approval of a spot SOL ETF has opened the door for deeper capital flows, and expectations around a U.S. listing are building fast, with odds for approval climbing sharply in recent weeks.Upexi’s $100 million raise, with a clear allocation toward building Solana treasury infrastructure, reflects a broader shift from short-term positioning to strategic asset exposure.At the protocol level, Firedancer is nearing rollout. Built by Jump Crypto, the new validator client is designed to push throughput to 1 million transactions per second and remove the bottlenecks that slowed Solana in prior cycles.Paired with rising TVL and deeper on-chain activity, the next leg up is no longer just about speculation—it’s backed by real structure.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Featured image via Shutterstock. The post SOL surges on network strength and bullish chart signals appeared first on Finbold.