Solana (SOL) Price Prediction: SOL Eyes $230 as Trump Reportedly Considers Adding It to Strategic Federal Cryptocurrency Reserve

Solana (SOL) price continued its rally for the fourth day in a row on Friday, adding 4.4% to trade at $220 at the last check. The coin has enjoyed a strong uptrend this week, surging nearly 20% in the last four days.

Solana price uptrend sparked by Trump’s crypto enthusiasm

The momentum on the coin was upbeat on the back of news that incoming US President Donald Trump could be considering the establishment of a strategic Federal cryptocurrency reserve that would include SOL.

Other coins mentioned for potential inclusion were USDC and XRP. Notably, Trump had earlier highlighted the need to have Bitcoin as a strategic Federal asset, and the latest development, if true, cements his positive leaning towards digital assets.

Solana DeFi performance outpaces Ethereum

Outside of the centralized exchange (CEX) and decentralized exchange (DEX) ecosystem, Solana also recorded a spike in its DeFi performance.

Data from DeFiLlama showed that the Solana blockchain saw its Total Value Locked (TVL) rise by 8.9% in the last seven days, outperforming market leader, Ethereum, which had a +4.56% over the same period. Solana’s DeFi rise locked in $840 million during the period, which helped boost SOL price.Solana price downside: Traded volume

The downside to the Solana price momentum was the significant decline in its traded volume. The coin had a 4.8% drop in its 24-hour volume at the last check, which pointed to a weakening uptrend.

Similarly, the Average Directional Index (ADX) reading was at 21%, which added credence to the likelihood of a takeover by the sellers.Solana Price Prediction: SOLUSD set for further gains

The momentum on Solana price calls for further upside above the $218 pivot mark. With the buyers still in control, SOLUSD will likely meet the first resistance at $225.

However, a stronger momentum could enable the coin to break above that barrier and test the second resistance at $230.

Conversely, the sellers will take control if SOL price breaks below $218. If that happens, SOL price will likely go to the first support at $215. Breaking below that mark will invalidate the upside narrative.

Furthermore, it could strengthen the downward momentum to extend losses and drive the coin lower to test the second support at $208.