- Solana network activity is surging, with over 64.5 million transactions and 3.07 million returning users in 24 hours, but its price remains stuck below the critical $180 resistance level.
- A breakout above $180 could ignite a bullish rally, while failure to do so may lead to a drop toward $106.
Solana is making headlines again — but this time, not just for its explosive network activity. Over the past 24 hours, the blockchain has processed a staggering 64.5 million transactions, drawing back more than 3.07 million returning users, according to DefiLlama. The numbers are undeniably impressive and highlight a vibrant, growing ecosystem.
But there’s a catch: price action hasn’t followed suit.
Despite this surge in user engagement, SOL remains stuck below the crucial $180 resistance level, raising questions about investor conviction. While network metrics suggest strong fundamentals, spot trading volume has shown signs of cooling, according to CryptoQuant, hinting at a disconnect between usage and market sentiment.
Technically, Solana chart is flirting with an inverted head and shoulders pattern, typically a bullish setup. However, analysts warn that without a clear breakout above $180, the pattern could fail, paving the way for a sharp correction toward $106.
So, what does this mean for traders?
$180 has become the line in the sand — a critical resistance that separates hope from hesitation. A decisive push above it could trigger renewed bullish momentum and validate the growing on-chain strength. Conversely, failure to break this level may reinforce bearish undertones and cast doubt on whether the recent spike in network activity is sustainable.
The verdict? SOL is at a tipping point. While the fundamentals are strong, the technical picture demands confirmation. Bulls need to rally fast, or risk watching the momentum fade away.
