The price of Solana token (SOL) is currently at $146.40, reflecting a 2.13% rise in the last 24 hours. This article discusses current market trends and forecasts.
Current Price and Technical Analysis
The price of SOL token stands at $146.40, marking a 2.13% increase over the last 24 hours and 2.48% over the last week. Following the peak at $156 on April 25, prices have struggled to gain further traction, currently consolidating in a tighter range. Technical indicators show neutral readings: the Relative Strength Index (RSI) is at 54.47, indicating no overbought or oversold conditions. Support levels remain at $130 and $114.
Short Liquidations in the $145–$150 Range
Analyst TheKingfisher pointed out a dense cluster of short liquidations between $145 and $150, which could result in a quick price reaction. If Solana's price begins to rise, this may force sellers to close their short positions, potentially driving the price up rapidly. The liquidation maps indicate very little downward liquidity support, increasing the likelihood of a sharp upward move.
Growth of Stablecoins and DeFi Activity
Since 2025, Solana has seen a significant increase in stablecoin supply, rising by 156% and now exceeding $13 billion. The increase in stablecoin volumes indicates a growing demand for decentralized finance tools. Over the past month, Solana's transaction volume has increased by 25%, reaching an average of 57.77 million transactions per day, reflecting growing activity within the DeFi ecosystem.
The current market conditions for Solana indicate trader interest in potential price growth. Short liquidations and the increased use of stablecoins highlight the stability and growing demand for DeFi tools within the network.
