Solana Outpaces Bitcoin and Ethereum This Week

While Bitcoin and Ethereum advance cautiously in a calm market, it is Solana that steals the spotlight. In one week, its price soared by 16.5 %, eclipsing the performance of the two historic pillars. This breakthrough is no trivial matter : it fits into a context of returning to fundamentals, where investors are once again scrutinizing technical signals and the solidity of projects. Solana, long relegated to the background, now seems to reposition itself as a serious contender for leadership in the next cycle.

Solana propelled by hope for a US spot ETF

Solana’s surge this week is explained by a well-identified fundamental element: the progress of the regulatory process towards the creation of a spot ETF backed by SOL in the United States.

This news has been the main driver of the 16.5 % rise, which pushed the crypto to $158.12. Solana is the star of the week among the top ten cryptos by market capitalization, thus taking precedence over Bitcoin and Ethereum in terms of performance.

This enthusiasm comes as financial markets, eased by the Fed’s rate hold and the drop in oil prices, offer a more favorable environment for risky assets.

On the technical side, several key signals strengthen this momentum, although the underlying trend remains to be confirmed :

• The SOL price has crossed two key technical thresholds : the 50-week exponential moving average, around $150, and the 200-week average, near $100, thus validating a typically bullish setup ;
• The RSI indicator stands at 59, indicating a still moderate bullish momentum but far from overbought zones ;
• The ADX remains low at 13, which means “Solana has not yet established a solid long-term trend environment” ;
• Finally, the “ON” status of the Squeeze Momentum Indicator signals a phase of volatility compression, often a precursor to extended moves.

These elements show that while the current impulse is real, it rests on a combination of favorable regulatory news and positive but still fragile technical signals.

A still fragile technical surge, but full of potential

Beyond the announcement effect linked to the crypto ETF, it is the analysis of on-chain technical data that provides the keys to interpret the next phase of the movement. The RSI (Relative Strength Index) has risen to 59, signaling a “moderate bullish momentum”, without yet being in the overbought zone, traditionally above 70.

This level suggests there is still room for growth before technical profit-taking might slow the momentum. Furthermore, the Squeeze Momentum Indicator shows an “ON” status, indicating that volatility remains compressed despite the strong price rise.

Historically, this type of compression on a weekly timeframe can precede more sustained major moves.

Moreover, the importance of trading volume during this market phase plays a decisive role. Solana surpassed $140 “on rising volume”, and the $100 to $120 zones are now identified as “high volume accumulation areas”, which strengthens the support’s solidity within this range.

However, the $160 to $180 level represents a first significant barrier, regularly tested since 2024. A break above this zone, coupled with an ADX rebound above 20, would be seen by analysts as a trigger for a more structured bullish cycle.

In the short term, the market seems to grant Solana the benefit of the doubt in a context where the major cryptos are still searching for direction. If the spot ETF were to materialize and push the price to new records, it could be a major catalyst capable of firmly establishing SOL in the institutional asset landscape. However, as long as trend indicators are not validated, the scenario of a simple technical rebound within a broad consolidation range cannot be ruled out.

Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.