Solana Analysis on May 24, 2025: Will the Bullish Surge Continue?

Analysis of Solana’s developments on May 24, 2025, focusing on Alpenglow hard fork, ETFs, and price trends.

On May 24, 2025, Solana (SOL) was a prominent cryptocurrency in the market. Its price fluctuated between $175 and $185, reflecting efforts to consolidate after a recent rally. Several factors, including the Alpenglow hard fork, ETF rumors, and surging DeFi activity, have contributed to this trend. The Alpenglow hard fork, introduced by the Anza team, aims to reduce transaction finality to under one second. This upgrade could make Solana one of the fastest Layer 1 blockchains, enhancing its competitiveness against Ethereum. This is particularly significant in DeFi, where Solana leads with a daily trading volume of $3.3 billion. However, delays in approving spot Solana ETFs by the SEC, with decisions postponed until October 2025, pose a short-term hurdle. Despite this, Solana futures ETFs, such as SOLZ and SOLT, have attracted $17 million and $32 million, respectively, since their March launch, signaling institutional interest. From a technical perspective, Solana has formed an ascending triangle pattern on daily charts, indicating continued bullish momentum. Key support at $170 and resistance at $200 are critical levels to watch. Breaking the $200 resistance could drive prices toward $250–$350. However, risks like global trade tensions and crypto market volatility could create selling pressure. Additionally, institutional adoption of Solana is rising. Firms like DeFi Development Fund have acquired over $100 million in SOL, reflecting confidence in the network’s future. Still, investors should exercise caution, as macro-economic factors like tariffs could impact the market. With its robust infrastructure and growing ecosystem, Solana remains an attractive investment option.