Solana Crosses $200 Milestone as Traders and High Network Activity Backs SOL Price

The Solana price has soared 9.78% in the last 24 hours, to trade at $201.88, on a 102.79% pump in the daily trading volume, to $12.66 billion.

Solana Soars as Network Activity and DeFi Surge Fuel Momentum

Solana (SOL) has quickly become very popular as its price has jumped sharply. Many traders are now watching it closely, hoping it could reach its ATH Soon.

Solana’s strong growth is being boosted even more by technical signals and blockchain data, suggesting it could keep rising for years. Its impressive price climb is backed by a big increase in activity on the network and fast growth in DeFi use.

In just the last 24 hours, the number of daily active users has gone up by 9%, showing that many people are actively using Solana. In June, Solana handled 2.3 billion transactions, and July is already on track to beat that number, showing how fast and efficient its network is.

Additionally, the amount of money locked in Solana’s DeFi apps (TVL) has jumped to $10.3 billion (the highest in six months). This is a 63% increase in just 15 weeks, and it puts Solana in second place for DeFi market share, right behind Ethereum.

SOL Price Approaches Major Breakout

Solana has rocketed to fresh five-month highs, trading around $195–$198, with a 34% gain in the past month. The current price action is charting a “textbook” cup-and-handle formation across weekly and multi-year time frames.

Analysts like Robert Mercer believe that a breakout above the $250 neckline would validate this bullish pattern, opening the door to a dramatic price rally.

SOL is trading at $200.90 in the daily chart, after climbing over 32% in the past month and more than 15% over the last week and continues to form higher lows and higher highs, holding above both the 50 and 200-day moving averages, confirming a strong uptrend across daily and weekly time frames.

Immediate supports lie at $156 and $134; a further drop could target support around $97. The next major resistance is at $251, followed by $314. A close above this could accelerate a move toward new highs.

SOLUSDT Analysis Source: Tradingview

RSI is hovering in the overbought territory at 81.24 on daily charts, indicating strong momentum. This suggests potential short corrections or consolidation before the next leg up.

Momentum remains positive, with the MACD histogram widening, suggesting underlying buying pressure remains intact. The Chaikin Money Flow (CMF) above the zero line also confirms that bulls continue to enter the market.

Solana’s proven scalability, deep developer community, and continuous innovation in DeFi and NFTs offer a powerful foundation for sustained growth.