Solana Price Forecast – Why SOL Could Rebound to $134 or Higher

Highlights:

• Solana is trading at the $130.44 support level 
• A bullish rebound off this support could trigger a rally to $134
• Bear exhaustion could trigger rebound despite weak macro-environment

Solana is in the red today, mirroring the trend across the cryptocurrency market. Currently, Solana (SOL) is trading at $131.67, representing a 4.70% price decline within the last 24 hours. However, trading volumes have increased by 3.62%, corresponding to $3.37 billion. This could be an indicator that traders are exiting their positions in anticipation of further corrections. Multiple factors could be driving such an investor to exit Solana. 

Risk Assets Like Solana Under Macro-Economic Pressure

The sustained decline in Solana, along with other cryptocurrencies, stems from worrying macroeconomic factors. The uncertainty pestering the market stems from former US President Donald Trump’s 25% automobile import tariff announcement. He claims that the move seeks to strengthen domestic production, but analysts suggest that the shift could undermine supply chains, raise costs for automakers, and inflate already skyrocketing costs.

Trump announces 25% tariffs on car imports to US

Time we did the same for Teslas. https://t.co/9byLXhzNbY

— Neil Franklin (@NeilFra97674870) March 26, 2025

In response to Trump’s move, Canadian Prime Minister Mark Carney remarked that trade relations are “over” and advocated for a comprehensive review of the trade deals. Additionally, Trump has been rumoured to be considering the imposition of further tariffs against countries with bilateral trade surplus relationships with the US, thus exacerbating fears of a global trade war. This has shaken investor faith in high-risk assets such as Solana, as evident in intraday price action. 

Charts Point to Solana Price Under Pressure

Aside from the other macroeconomic factors, Solana has been battling technical price challenges in recent weeks. Following bullish trends driven by speculations surrounding the rise of meme coins and the fast-growing artificial intelligence sectors, SOL has struggled to meet the $150 mark. It is an indicator that Solana’s price could be losing steam. 

Declining On-chain Activity Bearish for Solana

Solana’s on-chain activity, beyond speculation-driven trading, points to a slowdown. According to DeFiLlama’s data, Solana’s DApp revenues experienced a decline, dropping from $23.7 million two weeks earlier to $12 million in the week prior to March 24, which aligns with the expectation.

The figure for base layer fees also experienced a dip, falling to $3.6 million from $6.6 million previously. Even though the total value locked (TVL) on Solana remains at 53.2 million, SOL is fairly stable. The dip in revenue streams is a sign of declining investor activity.

3/8
Weekly app revenue on Solana has also decreased significantly, mirroring the decline in DEX volumes.

Despite ongoing user activity, the revenue gap points to a potential mismatch between hype and economic sustainability. pic.twitter.com/Am1B8k1nE8

— Re7 Labs (@Re7Labs) March 28, 2025

Solana Future Bullish Despite Correction

Despite these short-term hiccups, Solana has a good future ahead of it. Some experts believe that a Solana-based spot exchange-traded fund (ETF), if approved, could give Solana a boost in the market. In addition, the issuance of tokenized real-world assets (RWA), such as stablecoins and money market funds on the Solana network, could add value in the future.

Nikita Bier, co-founder of TBH and Gas startups, expressed optimism about Solana’s mobile prospects. He pointed out that Solana has done well with user onboarding and that the recent meme coin craze exposed literally millions of people to Web3 wallets and DApps.

Solana just nabbed Nikita Bier—social app wizard behind tbh (snagged by Meta) and Gas (scooped by Discord)—as an advisor to supercharge its mobile push! With viral hits like Politify under his belt and a gig at Lightspeed Ventures, Bier’s all in on Solana’s mobile breakout… pic.twitter.com/HuhvFn4SXA

— Philipp (@phirabudigital) March 25, 2025

Technical Analysis – Solana Price Trading at Critical Support

Solana is currently trading at $130.44 support in intra-day, with bulls putting up a spirited fight. If the Bulls take control and push Solana off the $130.44 support, then a rebound to $134.96 could follow. 

On the other hand, if bears take control and push Solana through the $130.44 support level, then a correction to $120 could follow in the short term. 

Recap

Solana is in the red due to a risk-off macroeconomic environment and increasing competition, especially in DeFi. However, in the long term, Solana’s outlook is positive. Even though indicators show persistent bearish sentiment in the market, Solana does have some advantages over its competitors. Solana’s strong infrastructure, growing real-world asset integration, mobile-friendly ecosystem, and comparatively powerful fundamentals enable it to withstand the test of time.