Solana's SOL Token Surges 5.1% Weekly, Eyes $190 Target

Solana, a prominent blockchain platform, has been garnering significant attention from market analysts and investors alike, with a notable price target of $190 for its native token, SOL. According to market analyst Lingrid, SOL has been steadily rising along an ascending trendline after breaking out from a complex pattern. This upward momentum has positioned SOL as a potential contender in the cryptocurrency market, with analysts closely monitoring its progress.

The bullish sentiment surrounding Solana is further bolstered by aggregated forecasts from various sources, which anticipate SOL to range between $200 and $220. These forecasts, while speculative, reflect the growing optimism among market participants regarding Solana's future performance. The anticipation of SOL reaching the $190 zone underscores the confidence in its potential for further growth.

The surge in decentralized finance (DeFi) activity and institutional interest has been a key driver for Solana's recent rally. The network's Total Value Locked (TVL) in DeFi protocols has hit a record high, indicating rising user activity, capital inflows, and growing developer confidence. This trend suggests that Solana is positioning itself as a viable competitor to other smart contract platforms, such as Ethereum.

Solana is forming higher lows and consolidating within a rising wedge, signaling bullish continuation as it approaches the key $190 resistance, where upper channel boundaries converge. At the time of this writing, Solana was trading at $159.09, representing a 5.1% increase in the past week. Meanwhile, with a year-to-date peak of 1,350 TPS, Solana now outpaces Cardano, Ethereum, and BNB in transaction speed, setting a new benchmark for blockchain performance.

Institutional adoption and potential regulatory developments are also playing a growing role in Solana's market performance. The rise in TVL, growing integrations with synthetic BTC products, and endorsements from firms such as Grayscale are helping Solana gain credibility. Reports of a potential Nasdaq spot SOL ETF filing, if approved, could drastically increase SOL's accessibility and investment volume, further driving its price upward.

With momentum on its side, the Solana price prediction for 2025 remains extremely bullish. Traders are closely watching a sustained close above certain levels that can act as a launchpad to higher resistance levels. If overall market sentiment remains favorable, Solana could breach these levels by the third quarter of 2025. Short-term traders may seek to accumulate on dips, while medium-term holders can aim for a drive to higher levels. Analysts continue to monitor macro trends, including ETF activity and general altcoin market strength, to gauge Solana's future performance.