What to know:
- Solana recorded 18 million active addresses in the last seven days, the highest among major blockchains.
- SOL continues to trade between key support and resistance levels near $73 and $78.
- Strong user activity and stable TVL indicate sustained ecosystem participation.
The attention surrounding the Solana price continues as Solana Hub has announced that the network has had the most active addresses among all major blockchains over the past week.
This update comes at a time when Solana’s price seems to be showing signs of stabilizing at a crucial support level after another extended period of sideways trading activity.
At press time, Solana is trading at $74.33, with a gain of 0.50% in the last 24 hours. Despite the modest gains, market participants want to find out if the considerable on-chain activity will be able to translate into stronger price action.
Also Read: Solana Price Holds Above Fibonacci Support as $500 Price Target Stays Possible
Why Is Solana’s Increase in Active Addresses in the Spotlight?
In a post released by Solana Hub, Solana was ranked number one in weekly active addresses with 18 million active addresses, leaving behind other networks like BNB Chain, TRON, Bitcoin, and Ethereum.
The post highlighted “Top chain rankings by Active Addresses last 7D,” with Solana leading all tracked blockchains during the period.
This ranking is important because the number of active addresses is one of the most reliable metrics when it comes to measuring network activity.
When the user base grows, it indicates demand for applications, transactions, and ecosystem participation, which ultimately reflects the overall health and adoption of the network.
What Information Does the TradingView Chart Provide About Solana Price?
The TradingView chart shows the Solana price trading near $74 following its recovery from the lows recorded in June. The coin’s current price is trading just below the Bollinger Bands midline, which places the $78 area as a key resistance zone.
In terms of support, the $73 level continues to act as immediate support, while stronger support can be seen near $68. Trading volume has moderated in recent sessions, suggesting that neither buyers nor sellers have established clear control of the market.
This indicates that Solana price could continue moving within its current range until a breakout or breakdown occurs.
Also Read: Solana Price Tests Key Support as $26M Cross-Chain Inflows Boost Bullish Outlook
Why Has Strong Network Activity Not Yet Boosted Solana Price?
This disconnect between high network activity and price performance reflects the broader cryptocurrency market environment, where many altcoins have struggled to sustain upward momentum as investors remain cautious about risk exposure.
Strong activity does not always lead to an immediate increase in price, but it often strengthens the long-term fundamental outlook of a blockchain network. In Solana’s case, according to the data from DefiLlama, stable total value locked (TVL) near $5 billion and elevated active address activity suggest that ecosystem participation remains strong despite recent price consolidation.
While the on-chain data supports a healthy network narrative, traders are still waiting for stronger buying momentum before pricing in a more bullish outlook.
What Is Next for Solana Price Traders?
The next significant challenge for Solana price is whether buyers can retake the $78 resistance level to restore bullish momentum. A break above this level may attract renewed market interest and improve short-term sentiment.
If SOL loses support around $73, traders may then look toward the $68 level as the next major downside target. At this point, strong network activity combined with sideways price action suggests that the market is waiting for a catalyst that could determine Solana’s next directional move.
The cryptocurrency market remains highly volatile, and traders should monitor price movements, market sentiment, and upcoming catalysts before making investment decisions.
Also Read: Solana Price Could Hit $94 as $5.8B Tokenized Assets Fuel Adoption
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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