Solana Outperforms Rivals as DEX Volumes Surpass $5B

Key Notes

• Solana DEX volumes hit $5.11 billion, surpassing Ethereum and BNB Chain in weekend DeFi rotations.
• Over 2.9 million SOL, worth $475 million, has been staked since Friday, reducing the active supply.
• Key technical indicators signal resistance near $180 despite strong network activity.

Solana price saw 5% gains on Sunday, November 9, as heavy on-chain rotations among DeFi protocol users lifted the token above the $165 level for the first time in five days. However, key technical indicators now pose early warning signals of a potential short-term reversal as SOL approaches key resistance near the 20-day moving average.

Solana top #1 in DEX Volume (last 24h) pic.twitter.com/TCf62gARzM

— Solana Sensei (@SolanaSensei) November 9, 2025

The Solana price closed above $165 on Sunday, after consolidating below this level since November 5. Its performance aligned with the broader market recovery that saw most top 10-ranked cryptocurrencies post modest gains over the weekend. Bitcoin rose 3% to reclaim $104,000, while Ethereum advanced 6% to trade near $3,900.

Beyond price action, investors demonstrated a preference for Solana in DeFi activity. Citing Defillama data on Sunday, a community contributor, posting as Solanasensie, highlighted on X that Solana’s decentralized exchanges recorded $5.11 billion in daily volumes, surpassing Ethereum’s $3.8 billion and BNB Chain’s $2.95 billion.

Spikes in metrics like DEX volumes during uncertain market phases reflect an intent to rotate capital within Solana-native DeFi protocols, potentially mitigating market downturns with passive yield rather than exiting or holding stablecoins.

This helps keep capital within the ecosystem, as affirmed by Solana’s recent staking data. Between Friday and Sunday, the total SOL stake increased from 414.5 million to 417.4 million, according to StakingRewards .

The 2.9 million SOL staking surge temporarily reduces short-term supply on exchanges, which could insulate Solana price against sharp short-term drawdowns in the coming week.

Strategic traders will look out for fresh institutional inflows or a macro-driven demand catalyst before entering large bets on a convincing Solana price breakout towards the $180 to $200 territories in the week ahead

Solana Price Forecast: 62% Reversal Probability Caps Rally Below $180 Resistance

Solana (SOL) experienced a positive weekend performance, reclaiming the $165 level after five days of consolidation. However, technical indicators on the daily chart suggest that while bullish momentum is building, the recovery may face resistance before breaching the $180 mark.

According to the Breakout Probability (Expo) indicator, Solana currently holds a 29% chance of a bullish breakout toward $180, while the downside probability remains higher at 62%, signaling a potential early pullback toward the $150 support zone.

The Bollinger Bands (BB 20 SMA) indicate tightening volatility, with the middle band at $180.06 acting as immediate resistance and the lower band at $149.58 providing short-term support.

Momentum signals reinforce this cautious outlook. The RSI (14) stands at 40.36, marginally above the oversold territories, suggesting that Solana is still in a fragile zone where sellers may regain control. Meanwhile, the MACD (12, 26) remains in bearish territory, printing negative histogram bars with the signal line at -9.24 and MACD line at -10.92, confirming that selling pressure, though reduced, has yet to reverse convincingly.

Profitability metrics also reveal a moderate bias toward consolidation. The win-to-loss ratio of 1,307 to 733, translating to 64.07% profitability, supports a near-term rebound scenario but warns that gains may be limited until increased spot volumes support Solana’s on-chain activity.

If Solana closes decisively above $170 on strong daily volume, the next target lies near $180, coinciding with the Bollinger midpoint. Conversely, failing to hold $160 could trigger a retest of $150, marked by the lower Bollinger band.

 

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