Technical analysis by DEXWireNews about Symbol SOL: Buy recommendation (4/17/2025)

Solana (SOL) has climbed to $134.35, marking a 0.89% gain over the last 24 hours and an impressive 20.39% increase over the past week. Its market capitalization now stands at $69.37 billion. Although 24-hour trading volume has declined by 14.73%, settling at $3.71 billion, bullish sentiment continues to build around the asset.Institutional interest has intensified. Real estate fintech company Janover recently added over $10 million in SOL to its treasury. With more than 163,000 SOL now under management, Janover is following a similar strategy to MicroStrategy’s Bitcoin approach — buying, staking, and holding long-term. This move reinforces growing trust in Solana’s infrastructure and staking rewards.Support for Solana also extends to regulated investment channels. Canadian institutions have backed Solana-based ETFs, adding another layer of credibility. These developments suggest that SOL is transitioning from a speculative asset to a longer-term investment holding.Technical AnalysisOn the chart, Solana recently broke structure (BOS) to the downside, indicating a growing bearish momentum. However, price found support and bounced off after recording a low of $95. Currently, the price is trading towards a high at $147. If it breaks above the the resistance, the price could extend toward $180, with potential continuation. Alternatively, if the breakout fails, a retest of the $110 zone may follow. The volume remains moderate, signaling cautious participation.The recent bullish activity aligns with institutional accumulation and ETF exposure. Key levels to watch include $110 as support and $147 high as near-term resistance. A sustained move, break and close above $147 may confirm the next bullish leg for Solana.