In April's Third Week, the Cryptocurrency Market Showcased a Low-Volatility

In April’s third week, the cryptocurrency market showcased a low-volatility sideways action, evidenced by Bitcoin’s neutral candle formations.

In April's third week, the cryptocurrency market displayed minimal volatility and underwent a sideways movement, indicated by Bitcoin's neutral candle formations. This consolidation can be attributed to the ongoing trade war between China and the United States, leading to uncertainty in the market.

Despite major signals indicating a risk of further correction, Solana showed sustained price action and a rebound in the number of active addresses. Is $200 around the corner?

Solana Network Activity Spikes As Price Heads For Key Breakout

A glance at the daily chart reveals that the Solana price experienced a bullish recovery from $95.28 to $132.2—a 38.8% increase—over a two-week period. Consequentially, the asset's market capitalization bounced to $68.5 billion.

Simultaneously, the number of active addresses on the Solana network witnessed a sharp rebound from 2.97 million to 3.94 million, registering a 34% growth. This uptick indicates that more users are engaging in transactions, deploying smart contracts, or interacting with dApps on Solana.

The increase in active addresses alongside the price rally adds credibility to the ongoing bullish trend, suggesting that the recovery is backed by fundamental user interest rather than speculation.

If the trend continues, the SOL price recovery could gain momentum and drive toward a potential breakout.

SOL Price Eyes $200 Rally Amid EMA Breakout

Highlighting the recent market recovery, Solana Pulse noted a breakout from the fast-moving 20-EMA of the daily chart. Since late January 2025, the coin has shown several failed attempts to breach this dynamic resistance, as the previous reversal led to a significant downturn ranging from 28% to 27%.

The current market consolidation allows buyers to validate its sustainability above the 20-day EMA slope, which is currently coinciding with the $125 floor. If the buying pressure persists, the coin price could surpass the 50-day EMA slope, reinforcing its bullish momentum for a leap towards $180, followed by $200.

However, the anticipated recovery won't be linear, as the overhead resistance would force occasional pullbacks in the SOL price.