SOL has been gradually rebounding since around 140 at the beginning of the year. What is the real driving force behind this wave of market activity? A careful observation reveals that the Solana ecosystem is quietly gaining momentum.

On-chain data is the most intuitive indicator. Recently, meme coins have been performing explosively, with $BLIND soaring from a $3.5K market cap to over $856K, a rise of more than 20 times; the chart of $KIWICAT shows a classic bull flag pattern, which has historically attracted large capital inflows. Interestingly, there is a phenomenon called "ecosystem resilience"—when SOL prices are under pressure, projects like Solpup perform well, indicating that funds haven't truly exited but are merely flowing within the ecosystem.

The macro environment is also cooperating. DeFi and NFT activities have recently picked up, with the total value locked (TVL) on the Solana chain remaining stable. Transaction fees are still among the lowest in the industry, collectively boosting on-chain trading volume. Historical patterns show that Q1 often presents a rebound window, and under the current circumstances, this potential is indeed present.

However, volatility risk must be taken seriously. In the short term, SOL is prone to sharp fluctuations. If macro conditions weaken, the 140-160 range could enter a prolonged consolidation phase, with significant resistance at the 180 level.

Overall, SOL's trend still leans upward, but ultimately it depends on the overall market sentiment. Ecosystem activity is the fundamental support, while price movement depends on market sentiment—both are indispensable.