Solana price is currently hovering around $150.35, following a volatile 24 hours that saw the price fluctuate between $147.79 and $153.28. SOL has gained just 0.78% this week, and the overall situation is more complex. Technical charts and network data show a struggle between buyers pushing prices up and sellers creating resistance.
Surge in SOL Network Activity Could Fuel Breakout Momentum
In the last 24 hours alone, Solana recorded 14.63 million active addresses, according to Santiment data shared by analyst Ali. This explosive spike is the highest observed in months, suggesting a revival in on-chain usage.
While overall monthly activity remains down 27.3% (from 77.2 million monthly active addresses), the recent daily surge could mark a turning point if sustained.
Additionally, Solana’s TVL stands at $10.36 billion, although it slipped slightly by 1.17% in the past 24 hours. The 24-hour DEX volume is strong at $2.49 billion, and total network revenue reached $3.9 million for the month despite a 15.8% decrease.
The top protocols on Solana, such as Kamino Finance, Jito, and Jupiter, remain highly active. They show solid performance in terms of fees and total revenue, indicating strong growth. This strength suggests a possible bullish breakout if the market conditions are favorable.
Solana Price Analysis
Solana (SOL) is approaching a key test. The price is currently just below a key resistance level of $153.11. The 50-day moving average is slightly higher at $154.47. Meanwhile, the Bollinger Bands are tightening, which often signals that a sharp price movement, either up or down, may be coming.
Right now, there’s a bit of hesitation in the market. Solana is trying to remain above its 100-day moving average of $148.93, which has provided recent support. However, there hasn’t been a clear shift in momentum yet.
The broader crypto market feels neutral with a slight bullish tilt, and Solana still boasts a strong market cap of $80.56 billion. That said, all eyes are on the $153.11–$154.50 zone. If SOL can break above this range with strong volume behind it, the next short-term targets could be $158.50 and even $165.
However, if bulls fail to push past this wall, there’s a real chance that the price will slip back down toward the $148 to $146 support zone.
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