Crypto Quill

Solana is making waves again. With the U.S. Core CPI coming in lower than expected at 3.1% year-over-year—below the estimated 3.2%—crypto markets are responding with optimism. Solana briefly surged past $130, showing signs of a bullish reversal. Now trading around $128, investors are speculating: Is this just the beginning of a run toward $145 or even $170? Let’s break it down.

Solana’s Price Trend Hints at a Breakout

Over the past few weeks, Solana’s price has been under pressure, slipping to a swing low of $112. But bulls seem to be regaining control. On March 11, Solana spiked 6%, signaling a potential comeback. The daily chart now shows signs of a V-shaped recovery, hinting at a push toward the 20-day EMA target of $145.

Despite five consecutive red candles, Solana has managed an intraday gain of 1.94%, reinforcing the case for a continued uptrend. The token is bouncing back strongly from the S-1 pivot support level at $104, giving traders hope for further upside.

One question lingers: Can Solana sustain this momentum, or is this just a temporary relief rally?

Solana’s Revenue Surpasses Ethereum

Amidst its price recovery, Solana has pulled off something remarkable—it overtook Ethereum in 24-hour revenue. That’s a big deal.

• Solana’s 24-hour revenue: $442,000
• Ethereum’s 24-hour revenue: $419,000
• Maker’s 24-hour revenue: $391,000

This shift is significant because Ethereum has long been the dominant force in blockchain revenue. But Solana’s network activity, largely driven by a surge in DeFi and NFT transactions, is giving Ethereum a run for its money.

For traders and long-term investors, this revenue growth is an important factor. It shows Solana’s ecosystem is expanding, which could support higher valuations in the coming months.

SIMD-228 Proposal: A Game Changer?

One of the hottest topics in the Solana community right now is the SIMD-228 proposal. This potential protocol upgrade aims to slash SOL inflation by nearly 80%. If approved, it could fundamentally change the supply dynamics of Solana, making it more scarce over time.

Here’s where things stand with the vote:

• 67.97% of “yes” votes (out of total yes + no votes)
• Threshold required: 67%

With the proposal on track to pass, the impact could be substantial. Lower inflation often translates to reduced selling pressure, which could be a bullish catalyst for SOL. If demand remains strong while new supply shrinks, Solana’s price could get the push it needs toward $145 and beyond.

Can Solana Reach $145 or Even $170?

The path to $145 looks more achievable than before, but hitting $170 will require stronger bullish momentum. Here are the key factors that could drive Solana higher:

1. Continued market optimism – If macroeconomic conditions remain favorable and inflation fears subside, risk assets like crypto could see more inflows.
2. Increased network activity – Solana’s rising revenue indicates growing usage. If this trend continues, investor confidence will likely increase.
3. Approval of SIMD-228 – A successful vote could create scarcity, making SOL more attractive to long-term holders.
4. Technical breakout – If Solana firmly clears $130, the next major resistance levels to watch are $145 and $170.

On the flip side, any market downturn or regulatory setbacks could slow Solana’s momentum. For now, all eyes are on the $130 resistance—if SOL breaks through, a run toward $145 might not be far behind.