Solana Smashes Expectations with $120M Liquidity Boost—SOL Price to Skyrocket to $150?

Over the past month, Solana has quietly staged a comeback, drawing more than $120 million in Solana liquidity inflows from other blockchains. Ethereum alone accounted for $41.5 million, with Arbitrum close to $37.3 million. Even newer players like Base and legacy chains like BNB saw funds flowing toward Solana. This shift suggests a growing optimism around Solana network activity,  especially after the turbulence sparked by Argentina’s LIBRA memecoin scandal, which had previously sent $485 million fleeing Solana. With memecoins like POPCAT and BONK posting wild gains, interest in the Solana ecosystem seems to be heating up again.

Total Transferred Amount Data Between Chains | Published on deBridge

Ecosystem buzz returns, but fee growth lags

The surge in memecoin activity has certainly put Solana back on traders’ radars, but it’s not all smooth sailing. Solana network activity is still lagging behind, with March generating just under $46 million in fees, a far cry from the $400 million peak in January. April hasn’t fared much better so far, with only about $22 million collected. Despite the growth in network interest, these figures fall short of expectations. However, the recent increase in liquidity flows shows users and developers might still believe in Solana’s long-term potential, even if short-term activity remains subdued.

Posed on X @DefiLiam

Key on-chain levels could shape short-term moves

Recent data from Glassnode reveals a significant shift in realized price distribution where the $130 level has become very significant, as over 32 million SOL traded there, about 5% of the total supply. This has turned it into a major support zone. Above that, $144 is seen as resistance, while $117 forms a lower boundary. These Solana liquidity inflows could be pivotal in guiding Solana’s near-term movements. For a more immediate view of where SOL could go next, let’s dive into the latest technical chart analysis.

SOL Realized Price Distribution Data | Posed on X @Glassnode

SOL Price Action Analysis of April 17th, 2025

SOL price traded in a tight range between $124.50 and $126.50 earlier in the session, forming a horizontal trading zone with limited volatility. This sideways consolidation was accompanied by low momentum, with RSI oscillating around the neutral 50 mark and MACD lines repeatedly forming death crosses. A breakout from the range initiated a strong upward channel movement, lifting prices past the $130 level. RSI climbed into the overbought zone multiple times, reflecting aggressive buying pressure, while successive golden crosses on the MACD confirmed bullish momentum. A temporary correction at 17:25 UTC followed, dragging SOL near the $130 support, where RSI briefly dipped into oversold territory before rebounding.

Chart 1, Analyzed by Alokkp0608, published on April 17th, 2025

In the most recent price action, SOL resumed its upward trend from $130 along a renewed ascending channel, again approaching resistance near $135. The RSI is currently hovering around 72, suggesting overbought conditions, while MACD remains bullish with another golden cross. Previous price reactions near $135 suggest this level is a critical barrier, tested multiple times but not convincingly breached. A sustained breakout above this resistance would be a strong bullish signal, especially if RSI sustains above 70 and MACD continues to rise.

SOL Shows Promise, But All Eyes Are On $135

Solana’s bounce back is starting to look more than just a short-term fluke. The steady inflow of funds and renewed buzz around memecoins show that confidence in the network is creeping back in,  even if activity fees haven’t caught up just yet. On the charts, things are getting interesting. The $130 level has clearly turned into a battleground where bulls keep stepping in, while $135 is proving to be a tough nut to crack. Indicators are leaning bullish, but we’ve seen hesitation at this level before. If SOL price manages to break and hold above $135, the door opens for a potential rally toward $144 and beyond.