$2.9 Billion Transactions Fuel Solana Price Surge to $111.78: Will Solana Skyrocket to $120 Next?

​The price of Solana (SOL) underwent substantial market swings when it reached its minimum value at $94.83 before achieving $111.78. The price movement occurred just as Janover Inc. a publicly listed company announced its entry into Solana digital asset acquisition. Janover Inc. designed a strategic acquisition plan which involves obtaining $42 million through convertible notes combined with warrants to support these deals in Solana because they perceive strong growth potential for Solana. ​

SOL Trend: What is Driving the Solana Price Movement?

The price decline has not hindered Solana because its network activities continue to thrive due to its decentralized exchanges processing $2.9 billion worth of transactions. Thus, making it the second-largest chain behind Ethereum! The positive impact of Janover’s investment might strengthen market optimism although technical analysis signals an upcoming price correction that may reach $120 as a possible price cap. Potential investors need to be watchful of market developments because they should wait before deciding on their investments. ​

Chart 1- Published on TradingView on April 8, 2025

Solana presents a robust uptrend starting from its primary support area of $100 that is clearly shown within the green box. The rebound from this support level continued upward as Solana maintained rising lows through an upward trend pattern. A bullish formation broke through resistance, which took prices to challenge the important $112 price level drawn with a thick red line. SOL encountered two unsuccessful attempts at penetrating the significant resistance level at $112, which suggested prevalent selling activity or profit-taking behavior in this psychological zone.

In-Depth Solana Analysis of April 8, 2025

The Relative Strength Index (RSI) delivers important momentum-based data that investors can utilize for their analysis. The price surged several times into the overbought zone where readings exceeded 70 during major market high points until short-term saturation occurred. The current probability of a potential market rebound has been established by the Relative Strength Index, which shows the price at 29.39 in the oversold region. The Relative Strength Index has not managed to move beyond its 50 mark during recent periods, which indicates that bullish power has diminished strongly in short-term durations.

Chart 2 – Analyzed by Triparna Baishnab, Published on TradingView on April 8, 2025

The MACD indicator illustrates alternating Golden Crosses and Death Crosses, which demonstrate continuous battles between market purchasers and sellers. The current indicator signals a Death Cross as the MACD line falls beneath the signal lin,e which represents bearish market momentum. The current price fall from $112 to $109 matches the histogram pattern because it shows continuous red bars beneath the zero line. The previous occasions of Golden Crosses produced substantial market gains, so investors need to watch MACD for new momentum shifts.

Solana Analysis: Expert Insights and Predictions

The Solana price has experienced significant fluctuations, reaching a minimum value of $94.83 before rebounding to $111.78. The first major technical support for SOL occurs at the $100–$102 area if the price drops below $108. A technical breakdown from this area would probably intensify the downward selling waves. The potential reversal might take place when SOL bounces from the oversold RSI level or breaks through the lower boundary of the Bollinger band.

Solana’s price action will signal a change in short-term bearish outlook if it surmounts $112 along with supportive rising volume and a MACD crossover into positive territory, which could drive prices toward $115–$117. The market uncertainty surrounding Solana presently inhibits its ability to show either bullish or bearish momentum in the near-term period.

What does the SOL Trend Indicate for 2025?

The current price volatility within the Solana market stems from advancing institutional involvement and ongoing system-based uncertainties. The $42 million investment of Janover Inc. demonstrates confidence in Solana’s future, but this SOL trend indicates uncertain market conditions for the short term. RSI has reached the oversold zone while MACD presents negative signals which makes $100–$102 essential levels for technical support. A price rise above $112 combined with increased volume would potentially change the existing bearish trend for SOL. The Solana price analysis shows an upcoming consolidation period during which market movements will determine if SOL moves closer to $115–$117 or falls under new bearish pressure.