Highlights:
- Solana’s rising price and volumes point to strong bullish momentum and fresh capital inflows.
- Bitcoin strength, Tether’s $187M Drift rescue, and improving global regulations support more upside for SOL.
- Technicals point to a breakout above $90, with bulls targeting $100 if the broader market rallies.
Solana (SOL) is in the green today, reflecting bullish market momentum. When writing, Solana was trading at $88.29, up by 3.78%. Trading volumes are also on the rise during the day. They are up 42.33% to $6.32 billion. Rising volumes alongside the price can indicate that new money is flowing into Solana, with expectations of more gains in the short to medium term. Several factors support a potential rally in Solana in the foreseeable future.
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Bitcoin Price Action Likely to Push SOL Higher
The first one is the bullish momentum across the market. Bitcoin, the main determinant of the cryptocurrency market, is pushing higher. Investors expect Bitcoin to keep rising in the short- to medium-term due to its strong correlation with the S&P 500.
At the moment, the S&P 500 is trading at all-time highs and shows no signs of slowing. As such, Bitcoin could be primed for a rally back to all-time highs. Since Solana, like other top altcoins, tends to trade in line with BTC, the current price action amid rising volumes could persist. A Bitcoin rally past $80k could trigger a broader altcoin rally, and SOL could be primed to return to all-time highs.
The S&P 500 and Nasdaq just hit new all time highs yesterday.
US markets have added $7 trillion in market cap in just 16 days.
The S&P 500 is up 11.51% from the March 31st bottom, adding $6,874 TRILLION.
The Nasdaq is up 16.96% adding $5,954 TRILLION.
Oil is down ~24% from… pic.twitter.com/DJDcS1WdQM
— Mister Crypto (@misterrcrypto) April 17, 2026
Tether’s Move to Rescue DRIFT Could Uplift Solana
Outside of Bitcoin-driven price action, Solana stands to benefit from Tether’s recent $127 million package to save Drift, which could reinvigorate the Solana DEX ecosystem.
The confidence will come from the fact that DRIFT can now resume operations as normal, and from the fact that Tether has a better response mechanism to the events that affected DRIFT than Circle. Such could reignite investor interest in Solana and, as FOMO builds across the market, send it back to all-time highs.
Improving Regulations Point to More Upside for Solana
Regulations are also improving globally, which can help push Solana higher in the short to medium term. In the US, there is significant progress on the CLARITY Act, a law that could reshape institutional investors’ perception of cryptocurrencies. Trillions of dollars in institutional capital could flow into Bitcoin once the law takes effect.
🚨 U.S. CRYPTO BILL MOVING FAST 🚨
COINBASE EXEC: CLARITY ACT COULD ADVANCE AS EARLY AS APRIL.
FULL VOTE EXPECTED SOON AFTER.
AIMS TO DEFINE CRYPTO RULES (SEC VS CFTC).
BIG STEP TOWARD U.S. “CRYPTO CAPITAL” PUSH.
THIS COULD UNLOCK MASSIVE INSTITUTIO… Show more pic.twitter.com/fqnJUqh3Hg
— Money Ape (@TheMoneyApe) April 17, 2026
Solana, as a large-cap cryptocurrency, could benefit immensely from such a move. In the UK, regulators are implementing regulations to better guide cryptocurrency wallets and companies. A globally improving regulatory environment means more capital flow into the market and better prospects for Solana in the long term.
More Projects Building on Solana Could Send SOL Higher
More importantly, more projects are choosing to build on Solana. One of those likely to drive significant traffic to the Solana network is Double Zero, which has rolled out Edge on Solana. This product provides users with near-instant access to market data on the Solana network. As more of these products launch, demand for SOL, the token that runs the Solana network, could skyrocket.
DoubleZero Edge is live.
The first institutional-grade, permissionless data delivery infrastructure for blockchains.
Real-time Solana shreds delivered via multicast over a dedicated global fiber network across 30+ metro areas. Faster shreds means faster round trip oracle… https://t.co/6vgbSN2Ns2
— Jump Crypto 🔥💃🏻 (@jump_) April 16, 2026
Technical Analysis – Solana Pushing Higher After Bullish Reversal
After a successful bullish reversal earlier in the day, Solana has been edging higher. While the hour has seen a minor correction, the price is still holding above the reversal support level at $87.40.
If bulls remain in control, Solana could test the $90.11 resistance in the very short term. A break above the $90.11 resistance could see Ethereum reach $100 in the foreseeable future. However, if bulls lose momentum, SOL could drop to the $87.40 support in the short term. Of these two scenarios, a rally to $100 is more likely given the market’s rising bullish momentum.
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