Solana price has regained attention after a series of on-chain and technical developments pointed to improving network activity and a shift in market structure. Fresh address growth, record transaction volumes, expanding real-world asset (RWA) activity, and multiple bullish chart signals have all emerged over recent days.
While the Solana (SOL) coin remains well below its all-time high, trading at $80.33, analysts are watching to see whether strengthening fundamentals can support the latest recovery.
SOL Gains Support as Network Activity Reaches New Highs
Glassnode data shared by analyst Ali on July 6 showed the Solana network added 1.60 million new addresses over the past two weeks, pushing total addresses to roughly 8.6 million as network growth accelerated. New wallet creation does not guarantee sustained demand, but it indicates broader participation across the network.
Activity on-chain has also continued to climb. Data highlighted by Lochie showed that Solana processed 847.9 million transactions during its busiest recorded week, averaging 1,519 transactions per second, marking another milestone for network usage.
Capital flowing through the ecosystem has expanded alongside transaction activity. Solana reported that spot trading volume for Solana tokenized assets across decentralized exchanges increased from $2.69 billion in the first quarter to $5.7 billion in the second quarter, suggesting stronger participation in tokenized assets.
RWA metrics moved in the same direction. Over the past 30 days, distributed asset value rose 34.78%, stablecoin market capitalization increased 3.72%, RWA holders climbed 22.77%, RWA transfer volume jumped 111.16%, and stablecoin transfer volume advanced 19.94%.
Solana Price Prediction Improves as Analysts Highlight Bullish Setup
Chartist Ali said the SuperTrend indicator generated its first buy signal on Solana’s three-day chart since October 10 after the Average True Range trailing stop flipped beneath price. He also noted the previous SuperTrend sell signal preceded a 74% correction, making the latest reversal the first bullish trend change under that indicator since then. The analyst said the setup could see the Solana price prediction extend toward $100.
Another well-followed financial market analyst, Michaël van de Poppe, reached a similar conclusion from a different technical perspective. He said $75-$77 must hold as support after the SOL coin broke back into its previous trading range. If buyers defend that area, he expects the Solana crypto asset to continue toward $100 before potentially reaching $120 over the coming weeks or months.
Even after the recent recovery, the Solana coin remains 72.78% below its all-time high of $294.33, recorded on Jan. 19, 2025. At the moment, traders are focused on whether improved network activity can translate into a sustained advance in Solana price.
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