Solana (SOL) is gaining strength after breaking above a prolonged downward trend, raising hopes of a broader price recovery. Meanwhile, growing stablecoin market capitalization highlights increased liquidity across its ecosystem. These developments could support SOL’s recovery if buying momentum continues.
As of now, according to CoinMarketCap data, SOL is trading at $90.25, up 0.68% over the past 24 hours but down 4.79% over the past week.
SOL Price Prediction: SOL Targets $148 After Breaking Downtrend
Crypto analyst Alex Marzell notes that Solana is showing signs of a potential long-term trend reversal after breaking above its major descending trendline. According to the analyst’s chart analysis, SOL has reclaimed this important technical level and is now undergoing a pullback. This could provide an opportunity for the price to establish support before another upward move.
The recent breakout suggests that selling pressure may be weakening after an extended period of downward movement. SOL is attempting to hold above the reclaimed trendline, while buyers look to regain bullish momentum. Maintaining this breakout structure could strengthen the possibility of further gains.
The analyst has identified $148 as the first upside target, where SOL could encounter resistance during its recovery. A sustained move toward this level would indicate that buyers are gaining greater control of the market. If bullish momentum continues beyond this target, $250 could become the next major price objective.
However, reaching these levels will depend on SOL maintaining its improved macro structure and overcoming nearby resistance. Although the $250 target represents a significant upside projection, the current pullback and the price’s ability to hold above the broken trendline remain important factors in determining whether the recovery can continue.
Solana Leads Stablecoin Market Cap Growth With $378M Gain
According to data shared by RWA Foundation, citing Token Terminal, Solana led stablecoin market cap growth over the past 24 hours, adding $378.1 million. Its increase was approximately 4.7 times larger than that of Hyperliquid, which ranked second during the same period.
HyperEVM recorded $81.3 million in growth, while Arc added $46 million. Polygon’s stablecoin market cap increased by $31.2 million, while Aptos and Tempo recorded gains of $26.3 million and $27.5 million, respectively. Other networks, including XRP Ledger, Sui, Robinhood Chain, and Stellar, also posted gains.
Solana accounted for a substantial share of the $656.8 million combined stablecoin market cap increase across the top 10 networks. A growing stablecoin market cap can support trading, payments, and decentralized finance (DeFi) activity by increasing the availability of dollar-pegged assets across the ecosystem.
