TLDR

• Solana price testing $130 support with eyes on $144 resistance breakout
• Over 32 million SOL transacted at $129.79, indicating strong market support
• Janover purchased 80,567 SOL worth $10.5 million, bringing holdings to 163,651 SOL
• Solana meme coins showing recovery with increased trading volumes
• Canada’s first spot Solana ETFs launched, boosting institutional adoption prospects

Solana (SOL) is experiencing a notable price recovery after hitting a 12-month low, with the cryptocurrency now trading at $134.72. Market analysts are closely watching key resistance levels as institutional adoption continues to grow and on-chain metrics show strengthening support.

Recent price movements show SOL testing critical support at $130 while aiming to break through the $144 resistance level. If successful, many analysts believe this could open the path to the $170-$180 range.

According to Glassnode data, the largest concentration of SOL holders purchased tokens at $129.79, with over 32 million SOL transacted at this price point. This massive accumulation creates a solid foundation for potential rebounds if markets face downward pressure.

#Solana’s URPD shows a major shift in cost basis over the past two days, forming the largest supply cluster (>5%) at $129.79 with over 32M $SOL. This zone could act as a support during future drawdowns, reflecting high investor engagement at this price level. pic.twitter.com/mrunKSjKZL

— glassnode (@glassnode) April 15, 2025

The cryptocurrency recently experienced volatility due to liquidations at $100 in April 2025. However, the strong support at $130 has helped stabilize prices as the market recovers.

Institutional Adoption Accelerates

Real estate company Janover announced the purchase of 80,567 Solana tokens valued at $10.5 million on Tuesday. This brings their total holdings to 163,651 SOL worth approximately $21 million.

Janover’s move mirrors the Bitcoin acquisition strategy pioneered by Strategy (formerly MicroStrategy), making Janover the first publicly traded U.S. company to adopt a treasury strategy primarily focused on Solana.

Since authorizing its new treasury policy on April 4, Janover’s stock price has risen remarkably, jumping over 1700%. The company plans to stake its newly acquired SOL immediately to generate revenue while supporting the Solana network.

Additionally, Janover has partnered with crypto exchange Kraken through a non-binding letter of intent. As part of this partnership, Kraken intends to delegate a portion of its existing and future Solana stake to validators operated by Janover.

The partnership follows a recent acquisition of Janover’s majority stocks by former Kraken executives, led by Joseph Onorati and Parker White earlier this month.

Meme Coins Signal Broader Recovery

After months of decline, Solana meme coins are showing signs of recovery, which may further boost SOL’s price momentum. Daily trading volumes are increasing dramatically on platforms like Axiom and PumpSwap.

According to reports, “Meme trading platform Axiom’s daily trading volume exceeded $100 million for the first time on April 14, accounting for about 50% of the market share of Solana Meme trading platform.”

PumpSwap, a new decentralized exchange, has quickly captured 14% of Solana’s DEX market, with daily trading volume surging by 50% on Tuesday, April 15.

In the last week, eight of the ten largest Solana meme coins posted double-digit gains. Most of these top ten assets saw gains of over 20% during this period.

This increased network activity is reflected in Solana’s price, which has recorded approximately 20% price gains as it recovers from its recent lows.

The launch of Canada’s first spot Solana ETFs on April 16, 2025, has further increased market speculation about SOL price movements. The increased institutional acceptance could boost Solana’s market demand and drive prices toward $200, according to some analysts.

Investors and traders continue to monitor whether Solana will break essential resistance levels, especially the $144 price level. A successful breakthrough could trigger further price appreciation, while failure to hold above the $130 support level might lead to downward movement.

Currently, the most likely short-term scenario according to some market observers is that Solana will consolidate between $125-$135. This price zone has been identified because most of the recent transaction volume has happened here, making it a relatively stable trading range.

As of press time, Solana traded at $134.72, up from its recent lows but still facing key resistance on its path to potential higher price targets.