- Solana holds above $70 while traders watch $75 and $80 resistance levels.
- Growing RWA adoption and strong network activity support Solana’s long-term outlook.
- Bullish chart patterns remain valid, but technical confirmation is still needed.
Solana — SOL, has reached another important moment after weeks of sideways trading. Price continues holding above key support, but buyers have not delivered a convincing breakout. Traders now face a market waiting for fresh momentum. Strong network growth offers reasons for optimism, while technical charts still demand confirmation. Several analysts believe coming sessions could determine whether Solana starts another rally or slips toward lower support levels.
Bulls Face a Major Resistance Test
SOL trades around $70.67 after losing nearly 2% during the past day. Despite recent weakness, buyers continue defending the important $70 support area. That level has become the market’s main battleground. The next challenge sits between $72 and $75. A descending trendline blocks further upside across that zone. Buyers must reclaim those levels before stronger momentum can develop.
A successful move above $75 would shift attention toward $80. Many traders consider that level the first meaningful breakout confirmation. A close above $80 could open the path toward $90 and $95. Strong liquidity remains visible around those higher price zones. Failure to protect current support would create a different picture.
Losing $70 could push Solana toward $65 or even $60. Additional weakness may expose the important $50 liquidity area. Analyst Michaël van de Poppe believes Solana wants another move higher. According to him, reclaiming previous trading ranges could create an attractive buying opportunity. Van de Poppe expects potential targets between $120 and $130 later this year if momentum improves.
Strong Network Growth Supports Long-term Outlook
Technical charts tell only part of Solana’s story. Network activity continues showing healthy expansion across several important sectors. Tokenized equities recently reached a record daily trading volume of $553 million. Real world asset adoption also continues growing. Solana now supports roughly $3.18 billion across that market with more than 291,000 holders.
That achievement places Solana ahead of competing blockchains by holder count. Application revenue remains another encouraging signal. Developers generated $19 million during the past week and $85 million over the past month. Weekly decentralized exchange trading volume also reached $12.3 billion. Several analysts continue highlighting bullish long-term chart formations. JAVONMARKS identified a cup and handle pattern with upside potential above $500 after confirmation.
Crypto Patel maintains long-term targets near $500 and $1,000 following another accumulation phase. Even so, confirmation remains necessary before stronger optimism returns. The daily chart still needs a breakout above descending resistance. Weekly MACD also continues waiting for a bullish crossover. Until then, traders will likely watch every move around the $70 level very closely.
