Solana (Sol) Price appears to be ready to rise in April, based on classic bull reversal indicators and new appetite signs of Memecoin.
Technical plays 65% Sol Price Rally
As of March 26th, Sol’s prices have entered the breakout stage for what appears to be a falling wedge pattern.
A falling wedge is formed when prices are integrated within the range defined by two converging descending trend lines. On the other hand, the pattern resolves when prices exceed the top trend line.
SOL/USD daily price chart. Source: TradingView
Solana broke above the top trendline of the wedge pattern falling on March 19th and has since maintained bullish momentum. The breakouts are getting stronger and Sol continues to climb for the next few days.
The Sol/USD pair is focusing on $235 as the pattern has been confirmed. This is the target you get by adding the maximum wedge height to the breakout level by April.
sauce: @theflashtrading
Breakouts are supported by improving momentum metrics. Solana’s relative strength index (RSI) moves above neutral 50 levels, suggesting an increased purchasing pressure.
Movement above the 50-day exponential moving average (50-day EMA, red wave) at $154 could further validate the breakout. However, if Sol retreats from the EMA resistance, bullish reversals are at risk of negation.
The Solana Memecoin sector is recovering
Beyond the charts, Solana’s on-chain activities see a fresh wave of Mimecoin’s enthusiasm. Over 8 million tokens have been released at Solana, and the recent daily developments have recovered sharply.
In particular, Solana-based Memecoin LaunchPad Pump.Fun witnessed the launch of over 34,000 projects on March 24th, compared to the early 20,190 launches of the month, the lowest daily count since November 2024.
A total project developed through Pump.fun. Source: Dune Analytics
Memecoin’s spikes reflect the recovery seen in December 2024, shortly after a month’s cooling-off period.
SOL/USD daily price chart. Source: TradingView
The surge in Memecoin deployment points to an updated demand and an increase in network activity. This is a historical trend that precedes Sol Price Rallies. When Pump.Fun activity saw a similar recovery last time, Solana Price rose over 68%.
Related: BlackRock’s Buidl expands to Solana with tokenized money market funds for nearly $20 billion
This momentum is also reflected in the strong performance of Solana-based top Memecoin, many of which have recorded impressive recent returns. That includes the official Trump (Trump) and Bonk (Bonk).
Top Soranameme Coin and performance as of March 26th. Source: Coingecko
Solana’s memocoin frenzy came out over the weekend when President Donald Trump created a social media post with explicit mentions of Trump memocoin. His support sparked fresh buzz throughout the sector.
Pump.Fun’s newly launched Decentralized Exchange (DEX) has surpassed a cumulative trading volume of $1 billion since it debuted on March 19th. This launch has led to an increase in the price of Sol, with SoL price exceeding 15%.
