Solana price gained 500% the last time this SOL metric turned bullish

Key Takeaways:Solana's 15% surge and potential close above the 50-week EMA signal strong bullish momentum, which previously led to a 515% rally in 2024. The $120 million in liquidity bridged to Solana reflects growing network confidence.Solana (SOL) price gained 18% this week, signaling rising bullish momentum. The altcoin is approaching a pivotal point, with a potential close above the 50-week exponential moving average (EMA), a level that has historically catalyzed significant rallies. In March, SOL dipped below the 50-week EMA and briefly dropped under $100 on April 7. Since then, Solana has staged a strong recovery, reclaiming key EMA levels (100W and 200W), with the 50-week EMA (blue line) now in focus. Solana 1-week chart. Source: Cointelegraph/TradingViewHistorical patterns reinforce a bullish outlook. In October 2023, SOL breached the 50- and 100-week EMAs, consolidating above these levels before rallying 515% by March 2024. Notably, the relative strength index (RSI) was below 50 during both periods, mirroring the current setup, with the indicator rebounding above 50 after the 50-week EMA flipped to support. If the 50-week moving average holds, the price targets for SOL could be between $250 and $350 by September 2025.Solana 1-day chart. Source: Cointelegraph/TradingViewThe daily chart bolsters this narrative. Solana recently closed above the 200-day EMA, with immediate resistance at $180. A break above this level in the coming weeks and turning the range into a support level could potentially ignite a parabolic rally by Q3 2025.Related: Solana lacks ‘convincing signs’ of besting Ethereum: SygnumUsers bridge $165 million to SolanaIn the last 30 days, over $165 million in liquidity has been bridged to Solana from other blockchains, reflecting growing confidence in the network. Ethereum led with $80.4 million in transfers, followed by Arbitrum with $44 million, per Debridge data. Base, BNB Chain, and Sonic contributed $20 million, $8 million, and $6 million, respectively. Total transferred amount from other chains to Solana. Source: debridgeSimilarly, data from DefiLlama indicates that Solana posted the highest decentralized exchange (DEX) volumes, 3.32 billion, over the past 24 hours. The network currently holds 28.99% of the market share among other chains.With a 28.99% market share among competing chains, Solana’s dominance in DeFi activity highlights its scalability and user adoption. Currently, substantial liquidity inflows and strong DEX volumes position Solana for a sustained price breakout. Related: Chance of Bitcoin price highs above $110K in May increasing — Here’s whyThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Weiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei CointelegraphWeiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei CointelegraphWeiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei CointelegraphWeiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei Cointelegraph