Solana Price Crosses $150: Bulls Aim For $200 Milestone

 
Sahil Mahadik
Written By 
Sahil Mahadik
 
Harsh Chauhan
Edited by 
Harsh Chauhan
March 6, 2025

Along with the top cryptocurrencies, Solana is also making a bullish comeback. The sixth-biggest cryptocurrency has sured the $150 psychological mark and is aiming for a massive bull run. 

Despite the death cross event, the short-term recovery signals a bullish comeback to $160. Will this rising bullish momentum drive SOL prices back to the $200 mark? Let’s find out.

Solana Back in the Game: SOL Prices Cross $150

In the daily chart, the SOL price trend reveals a bullish candle with an intraday recovery of 3.60%. Currently, SOL is trading at $151.58, marking its third consecutive bullish day. 

The low price rejection in Solana, backed by the $125-130 , is finally resulting in a bullish comeback. However, furthermore, the recovery run in SOL has resulted in a positive crossover in the MACD and signal lines. Thus, the technical indicator marks a bullish signal for SOL. 

However, the 50- and 200-day EMA lines in a declining trend have given a death cross event. Meanwhile, the declining trend in 100- and 200-day EMA lines also won a negative crossover. 

Nevertheless, the recovery run in Solana is on the way to gradually overcoming the shadow of the 20% downfall on March 3. The immediate resistance in SOL remains the 20-day EMA line at $161. Meanwhile, the $140 level is the immediate demand area.

Solana DEX Volume Market Share Gives Tough Competition to Ethereum

As the SOL price recovered gradually, SolanaFloor highlighted a new record. As per the tweet, Solana DEX volume has beautifully sured Ethereum’s entire ecosystem, which includes Layer 1 and Layer 2, in February. 

This massive recovery comes despite the Solana-based meme coin’s meltdown. Hence, the declining trend in Ethereum and Layer 2 market share is dominating 40% of the market share in DEX volume. 

Meanwhile, Solana is currently at nearly 30%. However, in February, Solana briefly sured the Ethereum and Layer 2 market share. Overall, the bullish trend in Solana and the declining trend of Ethereum and Layer 2 market share were bound to have a crossover event. 

Considering the prevailing trend continues, Solana’s market share in the DEX volume is expected to surge in 2025.

Solana Price Targets

Based on the price action analysis, the quick recovery in Suladnam with broader market stability could reach the 50-day EMA line at $181. However, the rise of volatility in the crypto market due to a sudden announcement by Donald Trump or other key influencers could result in a pullback to $130.

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Sahil Mahadik
Written by Sahil Mahadik

As a full-time trader with over three years of hands-on experience in the financial markets, I have honed an exceptional proficiency in technical analysis, which is the cornerstone of my daily monitoring of price fluctuations in leading assets and indices. My journey into trading began with a deep fascination for financial instruments, and this curiosity naturally expanded into the ever-evolving world of cryptocurrencies. I am currently contributing to CryptoNewsZ and have also written for Coingape, The Coin Republic and TheMarketPeriodical. I am driven by my ion for the markets and want to explore new opportunities, I analyze emerging trends and strategies to get maximum returns in traditional and crypto markets.