Solana's Price Surges 12.45% to $118.12 Amid Whale Activity and Support Levels

Solana's price is at a critical juncture in April 2025, with key support levels determining its performance amidst high market volatility due to trade policies. The cryptocurrency has shown resilience despite recent selling pressure, with significant whale activity influencing its price movements.

In the past few days, large-scale transactions have impacted Solana’s price volatility. On April 9, a transfer of 1,030,000 SOL tokens, equivalent to $110 million, was moved from Kraken exchange to an unidentified wallet. Additionally, a whale nicknamed “4W1Ree” unstaked 159,028 SOL, worth $16.5 million, further stressing the near-term stability of the coin. These movements have contributed to the price drop, with Solana's price dipping to $95.16 on April 7 before rebounding.

Technical indicators show that Solana is following an expanding falling-channel pattern. The cryptocurrency has found support below the $100 mark, helping maintain its position above this psychological level. Key support levels are at $74 and $50, while resistance levels are at $115 and $121. If Solana can hold above the $95 level, a reversal to these areas of resistance may occur. Analysts are particularly watching for a break above $121, as this could signal a more significant price recovery. Conversely, if the SOL price falls below $95, further downside could be possible, with targets as low as $69.94.

Despite the challenges posed by whale sell-offs and market uncertainty, analysts remain cautiously optimistic about Solana's potential. The cryptocurrency’s ability to maintain a foothold above $100 has garnered attention, with some believing that the coin could regain momentum if key resistance levels are broken. According to the prediction market, Polymarket, in April, the price of Solana will drop to $80 according to 20% of participants, while 30% predicted a surge to $150. This reflects the volatility normally associated with the short-term performance of the cryptocurrency. Nevertheless, there are bullish signs that the bulls are still intact and that the Solana price may be due for a surge if it can break past the current resistance.

Solana's price experienced a significant surge of 12.45%, reaching $118.12 in April 2025. This upward movement was influenced by whale activity and the crucial support level at $95, which played a pivotal role in shaping the cryptocurrency's outlook for the month. The price rally was driven by a massive bullish divergence formation on its daily chart, which indicated a potential short-term bounce. Despite broader market uncertainty, Solana's price rebounded sharply from its low of $95.16, rallying by nearly 17% to trade at $111. This bullish divergence was noted by prominent analysts, who suggested that the current market conditions presented an excellent opportunity for investors to buy Solana, provided they remained cautious around key support and resistance levels.

Analysts highlighted that Solana's decline from $295 followed a nearly straight line, which is atypical for a pullback according to the Elliot Wave Theory. This theory suggests a pattern of two corrections with a relief rally in between. Experts believe that Solana has now started its "B" move, indicating a strong short-term bounce. Popular Elliot Wave analyst X Force Global predicted a relief rally to $160 – $200, while trader Nebraskangooner identified $120 as a critical level. A flip of this level could pave the way for further gains to $140 and beyond. However, in the long term, experts anticipate more downside volatility for Solana due to broader market uncertainty. Trader Lana Queen expects a drop to $80, the lower boundary of a key support zone, before an explosive bullish reversal. Her 2025 price prediction for Solana is a new all-time high of $400.

Solana's bullish momentum was mirrored by powerful rallies across several assets within its ecosystem. Fartcoin, a Solana meme coin, defied broader market selling pressure and was trading at $0.61, close to breaking out from a bullish cup-and-handle pattern. A breach of the $0.63 resistance could pave the way for a rally to $1. Additionally, a new Solana layer-2 coin, Solaxy (SOLX), caught the attention of whales and raised nearly $30 million in its ICO. Deep-pocketed investors continued to pour in six-figure investments into SOLX, attracted by its presale fixed price and high upside potential. Several analysts viewed Solaxy as the next 10x crypto due to its strong presale performance and unique value proposition.

Solana's price action faced extreme pressure, sliding over 60% from its highs due to panic selling triggered by trade policies. However, the cryptocurrency teetered at a critical support level of $102, a zone that could mark the beginning of its next explosive rally or a sharp drop if broken. On April 7, Solana crashed below $100 for the first time since February 2024, but the following day, it briefly surpassed $110 before retracing to the current $107. If Solana fails to reclaim key levels above $100, it could fall to $50, resulting in significant losses. Despite these challenges, earlier projections placed SOL between $400 and $520 for 2025, with many believing that a real catalyst could re-ignite that upside. With its layer-2 ambitions, Solana's potential for growth remains a topic of interest among investors and analysts alike.