Solana rallies 13% weekly on strong network growth and new SuperTrend buy signal, with analysts watching $100 and $120 resistance levels.
Macro & Markets ·
Solana has climbed more than 13% over the past week, bringing monthly gains to over 30%, with the asset trading near $80. On-chain metrics point to accelerating network expansion: the blockchain added 1.60 million new addresses in two weeks, and a SuperTrend indicator on the three-day chart has triggered a new buy signal, the first since October. Analysts including those cited by crypto researcher Ali Martinez view this as confirmation of a shift from bearish to bullish conditions, with price targets of $100 and potentially $120 under discussion.
The signal carries weight given historical precedent: the previous SuperTrend sell trigger preceded a 74% decline. For the rally to extend, the $75–$77 support zone must hold. Beyond price action, Solana-focused digital asset treasury stocks have also posted gains, with Sol Strategies shares up 13.64% and Solana Company up around 12% over the past month.
Network utilization remains robust. The blockchain processed an average of over 100 million transactions daily this year—roughly 1,200 per second—while Solana-based decentralized exchanges accumulated over $360 billion in trading volume year-to-date. Whether these fundamentals can sustain momentum through potential pullbacks remains to be seen, as does whether resistance at $100 and $120 will prove permeable.