What to know:
- Solana price holds key support as buyers defend a higher low, boosting hopes for a move toward $120.
- SOL price gains momentum as Solana’s ecosystem revenue reaches $82.9 million.
- Solana’s stablecoin supply hits $15.7 billion, signaling stronger liquidity and network demand.
Solana (SOL) is showing renewed strength as buyers defend key support and network activity improves for the Solana price breakout. Rising application revenue, record stablecoin liquidity, and stronger trading demand signal growing ecosystem engagement, while the improving market structure could support a continued recovery if bullish momentum persists.
At the time of writing, SOL is trading at $76.29 with a 24-hour trading volume of $1.63 billion and a market capitalization of $44.4 billion. Following the 3.29% gain over the last 24 hours, the Solana price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Solana Powers Western Union 2026 Stablecoin Payment Launch
Solana Price Signals Recovery With $120 Target
According to the crypto analyst Michael van de Poppe, the Solana price is defending a crucial support zone, signaling that buyers remain active despite recent market volatility.
The token has established a higher low, a technical development that often reflects improving market structure and weakening selling pressure. Holding this level could provide the foundation for a renewed recovery as bullish sentiment gradually strengthens.
Source: Michael van de Poppe’s X Post
If the Solana price maintains its support and buying momentum increases, the cryptocurrency could attempt a fresh move higher in the coming sessions.
A decisive break above nearby resistance would strengthen the bullish outlook and potentially accelerate the recovery toward the $120 target. Traders will closely monitor support as an important level for SOL’s next move.
Solana Network Growth Accelerates in Recent sessions
The data from Solana further highlighted that in July, there was a resurgence of the ecosystem of Solana, which saw applications earn $82.9 million in revenues, the largest amount in any one month since February.
In addition, its percentage of blockchain network revenue reached 16.5% and helped position Solana as the third-largest in the category, surpassing even Ethereum.
Source: Solana’s X Post
The liquidity of stablecoins became another positive sign for the network, given that the supply of stablecoins on Solana hit a record level of $15.7 billion.
Memecoins also started to attract attention again, taking up about 25% of all trades carried out via Solana-based DEXes. All these signs show that liquidity is getting better.
Following the bullish price predictions and network growth, the Solana price is moving in an upward direction. This move is also backed by the general trend in the crypto market as Bitcoin has started to move upward.
What Happens Next for Solana?
What comes next for the Solana price will be dependent on its ability to sustain the existing support area and bring more buying pressure.
The continuation of its higher-lows structure and breaking above resistance might speed up the upward price movement towards the $120 level. Moreover, the increasing liquidity of stablecoins, app income, and decentralized exchanges may further fuel the bulls’ optimism towards SOL.
Also Read: Solana Price Targets $78 After Strong Support Hold and Deflationary Upgrades
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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