- The Solana price recovery is less than 2% short from challenging the key resistance trendline at $146.
- Address growth climbed from roughly 3.1M to over 5.1M as participation expanded across the network.
- A flattish trend in 20-and-50-day exponential moving averages indicate that short-term in SOL is sideways
SOL, the native cryptocurrency of Solana ecosystem, witnessed a 1.63% surge during Friday’s U.S. market session to trade at $144. While a majority of major coins are struggling with broader market pullback, Solana price was quick to rebound amid strong surge in number of active addresses and futures trading. The renewed recovery trend in SOL is just inches away from a key resistance breakout, signaling a potential pivot trend
SOL Gains Fresh Momentum as Wallet Creation and Open Interest Surge
Since last month, the Solana price has jumped from $116.8 to $145, registering a growth of 24.5%. Consecutively, the asset’s market cap jumped to $81.8 billion. The bullish upswing aligns with broader market recovery as Bitcoin reclaimed the $90,000 mark.
However, the SOL coin witnessed an accelerated surge as onchain and derivate market data projected renewed recovery.
Solana’s SOL token has experienced a decent rally during the current session, and this is a reflection of fresh momentum in both on-chain involvement and derivatives positioning.
Blockchain metrics show a positive trend of increases in user onboarding. In the past two weeks, the number of new addresses created on the Solana network has increased significantly, growing from approximately 3.13 million to 5.18 million. This rapid growth in wallet activity highlights this growth in participation, with more individuals and entities engaging with the platform’s fast and low cost infrastructure for transfers, DeFi protocol and other applications.
Derivatives markets followed suit with marked rise in exposure. Data from Coinglass shows the open interest in futures contracts linked to Solana increased from $6.8 billion to $8.86 billion – a good recovery that suggests traders added leveraged positions as the price advanced. Such increases in outstanding contracts are typically indicative of increased conviction among market participants that are betting on continued upside.
Combined, these developments point to a period of growing interest in Solana with increasing network usage and futures activity spurring the recent performance of the token in a competitive crypto landscape.
Renewed Recovery Sets Solana Price for $146 Breakout
By the press time, the Solana price trades at $144.75, registering an intraday gain of 1.75%. With today’s uptick, the coin price is just 1.3% short from challenging a key resistance trendline at $146.5.
This dynamic resistance from downloping slopes has been carrying a steady downtrend since mid-September 2025. Therefore, the potential retest to the barrier could be a pivotal movement for SOL.
If the supply pressure at this trendline is intact, the coin price could revert lower and create a fresh lower low formation for continued downtrend. If materialized, the coin price could lower 16.5% and test the next significant support at $116.8.
However, an exponential bullish crossover between 20-and-50-day EMA indicates a renewed recovery trend in SOL. A potential breakout from the pattern’s resistance trendline could intensify the rising bullish momentum.
With sustained buying, the post-breakout rally could drive the price 17% to challenge the key resistance at $172.
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