SOL price surges over 40% in a week, reclaiming key price levels after briefly dropping below $100

The cryptocurrency is now trading at $131.04, showing renewed strength as traders turn increasingly bullish on its prospects.

Solana's native token SOL has surged over 40% in the past week, reclaiming key price levels after briefly dropping below $100. The cryptocurrency is now trading at $131.04, showing renewed strength as traders become increasingly bullish on its prospects.

The impressive recovery comes amid growing optimism around potential ETF developments and the network's performance. Despite the recent gains, SOL still trades roughly 55% below its all-time high from January, leaving room for further recovery.

SOL's price hit a one-year low of $95.23 last week before beginning its upward trajectory. The rebound has been steady, with the cryptocurrency breaking through important resistance levels that had capped its price throughout March and early April.

Solana ETF Optimism

Investor confidence in Solana has increased following the appointment of former SEC commissioner Paul Atkins as the new Chair of the U.S. Securities and Exchange Commission. His selection has prompted speculation that altcoin ETFs, potentially including one for Solana, could face regulatory review soon.

Data from Polymarket reflects this sentiment shift, with the probability of Solana ETF approval by 2025 rising to 81%, up from 65% earlier this year.

In March, Volatility Shares LLC launched the first U.S.-based Solana futures ETFs, SOLZ and SOLT, offering both leveraged and standard exposure. The SEC's approval marked a first for Solana-linked derivatives in the U.S. markets.

Following these developments, Grayscale Investments submitted an amended S-1 filing on April 4 seeking to convert its Solana Trust into a publicly listed ETF on NYSE Arca.

Solana MACD Shows Positive Momentum

The recent price action has been accompanied by bullish technical indicators. The MACD is showing positive momentum, with the MACD line crossing over the signal line, suggesting continued upward movement.

The Relative Strength Index (RSI) currently sits at 53.49, above the neutral 50 mark, indicating a bullish bias. The RSI has also shown multiple bullish divergences in recent months.

$SOL 2025 = $ETH 2021

Just like Ethereum's run in 2021, Solana is setting up for a massive move in 2025.

$ETH in 2021 followed a clear accumulation and breakout pattern on the CME chart.

$SOL is now showing a similar structure on the CME Futures chart.

Accumulation Zone:… pic.twitter.com/PJ2sTXu4Vm

— BitBull (@AkaBull_) April 14, 2025

The SOL/ETH ratio, which reflects the value of Solana in Ether, reached 0.080 on April 13, marking the highest weekly close ever. This ratio has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.

Solana has increased by 35% over the last seven days, compared to a 13% increase in ETH price over the same timeframe, showing Solana’s outperformance in the market.

Active Addresses On Solana Up 17% This Week

On-chain data supports Solana’s recovery with active addresses on the network rising by over 17% this past week. More than 3.5 million new addresses were added, pushing the total above 74.8 million.

That’s more than triple Binance Smart Chain’s total and nearly 10 times Ethereum’s address count.

Solana's decentralized exchange (DEX) activity remains strong, with 24-hour trading volume reaching $2 billion—more than any other blockchain in the same timeframe.

The long/short ratio has hit a 30-day peak at 1.06, suggesting increased demand for long positions. This ratio compares the number of traders expecting price increases versus those expecting declines, with values above 1.0 indicating overall bullish sentiment.

The network's utility continues to expand with new projects launching on its infrastructure. Loopscale, a traditional lending platform, recently launched on Solana and has already processed over $750 million in loan volume while onboarding more than 50,000 users.

According to Solana’s head of institutional growth, Nick Ducoff, venture capital firms are showing strong interest in the network.

Institutional investors are increasingly viewing Solana as a viable foundation for long-term Web3 infrastructure, Ducoff added.