Solana Price Prediction for April 2025
The dust for the U.S. reciprocal tariffs imposed on more than 100 nations has begun to settle. Bitcoin (BTC) price held above $82k, as the wider altcoin market, led by Solana (SOL), attempts a bullish recovery, following the maximum pain experienced since the Donald Trump administration took office.
Solana, a large-cap altcoin, with a fully diluted valuation of about $68 billion and a 24-hour average trading volume of around $4 billion, has dropped around 4 percent in the past 24 hours to trade about $115 on Friday, during the early Asia session.
Closer Look at On-chain Activity for Solana Network
The Solana network will be recording its largest single-day unlock of around $200 million in the recent past and also until 2028 on April 4, 2025. The notable Solana network token unlock coincides with a significant market dump by whale investors.
According to on-chain data analysis from Lookonchain, several Solana whales unstake their coins in the past 24 hours and dump them in the market. The palpable fear of a possible crypto market crash in the near future has seen an increased departure of whale investors towards the stablecoins market or the gold sector.
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What Next for SOL Price?
In the weekly timeframe, SOL price has established a rising trend since late 2023, which is characterized by higher highs and higher lows. In the past few weeks, the SOL/USD pair, in the weekly time frame, has been retesting a crucial rising logarithmic trend, which has acted as a robust support level for more than a year.
Additionally, SOL price is also retesting a crucial support/resistance level, established over the years.
In the four-hour timeframe, SOL price has already broken out of a falling logarithmic trend and is currently retesting a previously established support level of around $124.
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FAQs
Solana dropped ~4% due to a $200M token unlock and whale dumping, sparking fears of a broader market sell-off.
Yes, on the weekly chart, SOL maintains a rising trend with higher highs and lows since late 2023.
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