Solana has walked into the spotlight, joining top gainers in the crypto market today. The bullish sentiment surrounding SOL has not one but multiple catalysts. First, the launch of Solana’s mobile Seeker device is boosting user interest in Web3 hardware. Adding further fuel, Bybit CEO Ben Zhou has unveiled Byreal, the first on-chain DEX built on Solana, scheduled to go live by the end of June. 

Meanwhile, institutional confidence is gaining traction as Fidelity has filed for a spot Solana ETF with the U.S. SEC, and Invesco-Galaxy are following the foot steps via Delaware Trust. On a positive note, the engagements on Solana’s network have also doubled Ethereum’s, hitting 45.77 million, signaling rising developer and user activity. If you are as interested as me in uncovering SOL’s short-term price analysis, this is a must-read for you. 

Solana price today is trading at $157.18, this has come after ranging between the low of $144.36 and the high of $157.13. Its market cap stands at a healthy $82.67 billion, with an impressive 24-hour volume of $4.48 billion, up by 113.19%.

Looking at the daily chart, SOL is rebounding from its lower Bollinger Band at ~$141.60 and is now trading above the 20-day SMA of $155.61, which suggests a short-term bullish reversal. The upper band is currently near $169.61, which I am confident will be the next resistance zone if bullish momentum continues. Successively, the RSI is at 49.91, climbing from oversold territory and crossing above its moving average at 43.51.

A decisive break above the upper Bollinger Band and $170 could open the doors for a rally toward $185-$190 in the near term. However, failure to sustain above $155 may pull prices back toward $144-$141 support range.

If you are keen on holding SOL for the long term, you need to read our Solana (SOL) Price Prediction 2025, 2026-2030!