Solana Price Prediction: Can SOL Explode Higher After Perp DEX Volume Hits Record $20 Billion?

The crypto market started the week down. Digital asset investment products lost $1.07 billion. That broke a six-week run of money coming in. Worries about U.S. inflation and rising world tensions between US and Iran put investors in a more careful mood.

Even with that backdrop, Solana stood out after attracting $55.1 million in fresh fund inflows, showing that some investors still see strength in the network’s growth story. Solana ETFs also posted a modest $2.06 million inflow at a time when Bitcoin ETFs lost more than $648 million in a single day. 

Still, the SOL price is trading near $84.55 today, though daily trading volume has dropped 22% over the past 24 hours.

Solana Perp DEX Volume Hits New All-Time High

A major reason traders are paying close attention to Solana this week comes from the network’s perpetual futures market. Wu Blockchain reported that Solana-based perpetual DEX platforms crossed $20 billion in weekly trading volume for the first time ever. Daily volume also reached a new peak at $5.78 billion on May 18, showing aggressive trader activity across the ecosystem.

The biggest driver behind the move was GMTrade, which processed nearly $4.9 billion in 24-hour volume alone. That level of activity is important because it shows traders are not only using Solana for meme coins or spot trading anymore. 

More capital is flowing into advanced trading products that usually demand fast execution and deep liquidity. Solana’s low fees and fast transaction speeds continue to make it attractive for high-frequency trading activity.

There was also extra attention around a public wager-style trade involving Solana Foundation Chief Product Officer Vibhu and Hyperliquid trader Drews888 on the Phoenix perpetual protocol. 

That interaction brought more visibility to Solana’s derivatives ecosystem at a time when competition between on-chain trading platforms is becoming more intense. If perp trading activity stays elevated, it could create stronger demand for SOL across trading pairs, collateral usage, and ecosystem liquidity.

Solana Chart Analysis

We had a look at the chart and price action still shows weakness after the strong rally earlier this month. The SOL price rose toward $98 before sellers stepped in. Then it fell steadily back to the mid-$80 range. The drop wiped out a big chunk of the May rally. Still, buyers have started defending the $84 support area over the last few days.

The MACD is starting to settle after a long stretch of bearish signals. The bars on the histogram have turned green again. That could mean the selling pressure is wearing out. Even so, the MACD lines are still below neutral. So buyers still need more proof before a full turn can happen.

The Ultimate Oscillator is trading near 55, showing that momentum is no longer deeply bearish. That reading usually points to a market trying to recover balance after heavy selling pressure. Price action also appears to be forming a short-term base between $83 and $85, which could become an important support zone for the next move.

Resistance remains near $90 first, followed by the larger breakout zone between $94 and $98. If buyers fail to protect the current support region, the next downside area could appear near $80, where SOL previously found strong buying interest in late April.

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Where Could Solana (SOL) Price Be Headed Next?

Bearish Path

If crypto market sentiment weakens further and institutional selling pressure continues, SOL could lose the $83 support region. A breakdown there may open the door for a move toward $80 and possibly $76 if broader market outflows accelerate again. Falling spot volume also remains a concern because it shows traders are still cautious after the latest correction.

Likely Case

Solana could drift between $83 and $90 for a while. Its ecosystem is still active, especially in perpetual DEX trading. But the broader pressure on crypto has kept people from buying heavily. If trading volume steadies and ETF money keeps coming in, SOL could slowly climb back to the low $90 range over the next few weeks.

Bullish Scenario

If Solana’s perp DEX momentum keeps expanding and buyers reclaim the $90 resistance level, momentum could return quickly.  If SOL breaks above $94, it could try the recent high near $98 again, and maybe even touch the $100 mark. More money flowing into Solana funds and ETFs would help the case for a rise, especially if the wider crypto market bounces back from its latest losses.

Even with the market weak, Solana (SOL) is still one of the busiest networks in crypto. The record $20 billion perp DEX volume shows traders are still heavily engaged with the ecosystem, especially across high-speed derivatives platforms. 

Even, ETF inflows and fresh fund allocations show that investor interest has not disappeared even during risk-off conditions. The SOL price still needs to reclaim key resistance levels, though the growing trading activity across the network keeps the possibility of another breakout alive.

Frequently Asked Questions

Is it better to buy XRP or Solana

XRP and Solana serve different purposes, so the better buy depends on what you believe in more. XRP is mainly focused on fast cross-border payments for banks and financial institutions, while Solana is built for apps, trading, gaming, and everyday blockchain activity. Many investors see Solana as a higher-growth asset, but XRP still has strong appeal because of its payment use case and global partnerships.

Is Solana better than Ethereum

Solana is much faster and cheaper to use than Ethereum, which is why many traders and developers like it for high-activity apps. Ethereum still leads in areas like security, decentralization, and developer adoption, especially across DeFi and token projects. Some people see Solana as the faster network for everyday use, but Ethereum remains the bigger ecosystem overall.

Will Solana price hit $1000 dollars

A move to $1,000 would require Solana to grow far beyond its current market value, so it may take several years to happen. That kind of price target would likely need stronger crypto adoption, more institutional money, and continued growth in Solana’s ecosystem. If the network keeps expanding and the broader market stays healthy, many investors believe SOL could eventually reach four-digit prices before 2030.