- SOL trades below the $145 resistance level, with higher volume accompanying a pullback and short-term consolidation near $140.
- Santiment data shows network growth still declining, with new weekly wallets far below Nov 2024 levels.
- Charts highlight potential upside toward $165–$200, but support near $131 remains key for structure.
Solana (SOL) traded at $140.28 at the time of writing, down 1.33% over the previous 24 hours, as the token remained below a key resistance band between $142 and $145. Daily data showed SOL opening near $142, moving above $143, and then retreating toward the $138.50–$139.00 range before stabilizing and edging back into the $140 area.
Market data recorded 24-hour trading volume at $5.6 billion, up about 11.1%, with Solana’s market capitalization near $79.3 billion. Circulating supply was listed at 565.2 million SOL out of a total 618.2 million tokens.
On-Chain Network Growth Tracks Resistance at $145
Analytics firm Santiment reported that Solana recently traded as high as $144 while “looking to break past” resistance at $145. The firm highlighted that the outcome of this test may depend on whether network growth begins to rise again. According to Santiment, weekly new wallets on Solana totaled 30.2 million in November 2024, compared with 7.3 million in the latest reading.
Santiment’s chart commentary indicated that earlier price breakouts coincided with an increase in new addresses and broader on-chain activity, while periods of weaker network expansion aligned with softer price performance and extended corrections. The current network growth trend is labeled “still falling” on the visualization, framing the latest rebound attempt amid a steep decline in new wallet creation.
Analysts Map Upside Targets Between $165 and $200
Crypto analyst NekoZ highlighted a potential trend reversal following a prolonged downtrend on the daily chart. The chart showed SOL breaking above a descending trend line that had limited rallies since November, after forming a rounded base near the $120 area and stabilizing into early January.
Fibonacci retracement levels on that chart place the current consolidation near the 0.786 level around $142–$145, with projected upside paths pointing toward the 0.618 level around $165 and the 0.382 level near $200, assuming momentum holds.
Source: XAnother analyst, Crypto King, stated that a broken trend line had “confirmed support,” describing bulls as in control and positioning SOL for a move toward $170, while calling for further confirmation. NekoZ referred to a “rounding bottom” and a “massive breakout” on the daily chart, and suggested a next target zone above $190.
Short-Term View Focuses on $131 Support and $150 Resistance
A lower-timeframe chart shared by Crypto Tony showed SOL advancing from the mid-$120 range into the $137–$140 zone, with a sequence of higher lows indicating improving short-term structure. The analysis identified near-term support just above $130 and a broader resistance band in the higher $140s to $150 region.
Source: XCrypto Tony described an “ideal scenario” in which a retest to $131 is followed by a move to the higher $150 resistance zone if the price rejects at $143.
Related:Solana Price Prediction: Sellers Maintain Control As Major Support Breaks
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/solana-price-stalls-below-145-as-network-growth-remains-weak/
