Solana (SOL) has rallied 20% over the past seven days, supported by strong technical indicators and rising on- chain activity. Its Ichimoku Cloud and BBTrend charts both point to bullish momentum, with trend strength and volatility increasing.
At the same time, Solana is reclaiming the top spot in DEX volume and dominating the protocol fee rankings across major DeFi applications. With the recent Golden Cross on the EMAs, SOL now looks poised to test key resistance levels if the momentum is sustained.
Solana Indicators Show Bullish Signals
Solana 's Ichimoku Cloud chart shows a clear bullish structure, with price trading above both the Tenkan-sen and Kijun-sen. This arrangement suggests strong momentum in the short to medium term, with buyers maintaining control .
The forward Kumo is green and steadily expanding, which supports the continuation of the current uptrend. The gap between price and the cloud also gives the trend some room to run before any potential weakness emerges.
SOL Ichimoku Cloud. Source: TradingView .Chikou Span is placed above the cloud and candlestick, confirming bullish confirmation from past price action . As long as Solana remains above Kijun-sen and the cloud remains supportive, the trend remains tilted to the upside.
Solana 's BBTrend is currently at 16.89, showing a sharp increase from 1.88 two days ago, although down slightly from 17.54 yesterday. This sharp increase suggests that volatility and trend strength have expanded significantly recently.
SOL BBTrend. Source: TradingView .BBTrend, or Bollinger Band Trend indicator, measures the strength of a trend based on how far the price moves away from its Medium range. Readings above 10 typically signal a strong ongoing trend, while lower values reflect a choppy or weak market.
With SOL 's BBTrend holding near its highs, this suggests the asset is still in a strong trending phase. If it stays high or rebounds, it could support an upward move —but a steady decline could hint at a slowing trend or upcoming consolidation.
SOL volume and application are increasing
Solana is reasserting its dominance in the decentralized exchange (DEX) space, surpassing Ethereum and BNB in daily volume.
Over the past 24 hours, Solana has seen $2.5 billion in DEX activity, marking a 14% increase over the past seven days. That growth outpaced Base’s 10% gain and contrasted sharply with declines on Ethereum (-3%) and BNB (-9%).
DEX volume by chain. Source: defillama .More impressively, Solana 's seven-day DEX volume has surpassed the combined volume of Base, BNB , and Arbitrum.
Protocol and chain fees. Source: defillama .Not only in terms of volume, Solana also leads in protocol revenue generation. Of the top eight non-stablecoin protocols ranked by fees, five are built directly on Solana : Pump, Axiom, Jupiter, Jito, and Meteora.
Pumps have been particularly prominent, generating $2.73 million in fees in the past 24 hours alone and $15 million in the past week.
Can Solana Surpass $150 in the Coming Weeks?
Solana 's EMAs recently formed a Golden Cross, a bullish signal that usually marks the start of a new uptrend.
This crossover suggests that momentum is shifting to the buyers, with the possibility of Solana price testing key resistance levels soon.
SOL Price Analysis . Source: TradingView .If the current trend continues, Solana could challenge the resistance around the $136 region. If it can overcome it, the price could open the way to higher levels like $147, $160, and even $180 if buying pressure increases .
However, if the momentum declines, Solana could face a correction towards the $124 support zone. A break below this level could see the price fall further, potentially back to $112 or even $95 if selling pressure increases rapidly.
