SOL price today is trading 2% down amid the broader crypto market selloff, slipping under $170 levels. Following a rejection at $185 resistance, Solana has corrected nearly 10%, however, on-chain data shows the possibility of a strong upside moving ahead. Market analysts are hopeful that this rally can continue moving ahead all the way to $350, provided the altcoin knocks off key resistances on its path.
SOL Price Prediction: Analysts Eye $350 as Key Milestone
Despite the recent pullback in Solana, the crypto community remains bullish as the altcoin shows the preparedness to break past its accumulation zone of $115-$190. Market analyst Crypto Spaces noted that once SOL price crosses the critical resistance of $200, the next major target of $350 would come very early.
This potential rally is drawing attention from traders, with the surge in engagement activity, including rising demand for Solana meme coins. Amid today’s crypto market sell-off, top Solana meme coins like Fartcoin, BONK, dogwifhat (WIF), are also facing selling pressure at the moment.
Looking at the Solana derivatives data from Coinglass, the SOL futures trading volumes remain steady at $6.5 billion while the 24-hour liquidations have $12 million, of which $11 million is in short liquidation.
Solana Ecosystem Resilient Amid Market Volatility in Q1
Messari’s latest “State of Solana” report highlights the blockchain’s continued growth and resilience despite challenging market conditions. The blockchain analytics platform has also mentioned some key areas of improvement, like infrastructure upgrades and decentralized finance (DeFi).
During the first quarter of 2025, the Solana blockchain GDP witnessed a 20% uptick, reaching to $1.2 billion. On the other hand, the total market cap of all stablecoins on the Solana blockchain surged by 145% to $12.5 billion.. Lastly, the Messari report highlights that the average daily DEX volume has jumped by 40.8% to $4.6 billion.
The report underscores Solana’s ability to thrive through innovation and expanding utility, solidifying its position in the blockchain ecosystem.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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