Solana News Today: Solana surges 10.9% as TVL grows 50% to $9 billion

Solana has experienced a significant surge this week, with its price increasing by 10.9%. This rally has pushed the cryptocurrency to test critical resistance levels around $179, coinciding with strengthening on-chain fundamentals. The Total Value Locked (TVL) has grown from $6 billion to over $9 billion, and the number of returning active wallets has surpassed 3.3 million users.

Technical analysis indicates that Solana is currently engaged in a critical battle between discount and premium zones, with the price testing equilibrium around $179. The cryptocurrency has been consolidating within a $145-$175 range, but recent price action suggests that this consolidation may be nearing an upward resolution. Changes in character signals during March-April indicated a potential trend reversal, followed by Break of Structure confirmations, validating demand at lower levels.

Long-term analysis reveals an extraordinary cup and handle formation spanning multiple years, positioning Solana for a potential breakout toward all-time highs of $295. The 4-hour chart shows Solana testing the upper boundary of its equilibrium zone with key resistance at $189 representing the critical breakout level. Volume profile analysis suggests a strong support foundation, as evidenced by high-volume nodes around $145. Thinner trading above current levels typically leads to accelerated moves once resistance is cleared.

Federal Reserve pause and market expectations for 30-50 basis points of cuts by Q4 2025 create a favorable liquidity environment for high-beta assets like Solana. Immediate targets following a $189 breakout include $235 and $263 resistance levels, with analyst projections extending to $295, $360, and $402. Solana-specific catalysts, including strong developer metrics and institutional partnerships, provide fundamental support for technical breakouts toward these higher targets.

Solana’s weekly chart reveals a massive cup and handle formation that has been developing over multiple years, representing one of the most bullish continuation patterns in technical analysis. The cup formation shows Solana’s rally to $260 highs, followed by rounded bottom support in the $80-120 range, and recovery creating a classic accumulation structure. Currently, Solana appears to be forming the handle portion through a shallow pullback from the cup’s rim. This final consolidation phase typically precedes explosive breakouts that complete the pattern. The measured move projection targets $295 for new all-time highs, calculated by taking the cup’s depth and projecting upward from the breakout level.

Global liquidity improvements, driven by coordinated central bank easing, support the “second leg of liquidity wave,” benefiting cryptocurrencies. Regulatory clarity developments, such as the GENIUS Act, provide additional tailwinds for altcoin allocation strategies as Solana approaches the completion of its pattern.