Solana prepares for its next breakout attempt
Solana continues to lag behind Bitcoin and Ethereum in terms of recovery, but activity across its ecosystem keeps improving. Strong on-chain metrics and low volatility suggest that the next significant price move may be approaching.
Despite improving sentiment across the cryptocurrency market following the release of U.S. inflation data, Solana has underperformed both Bitcoin and Ethereum in recent sessions. Nevertheless, on-chain metrics continue to point to strong user engagement.
According to DefiLlama, Solana processed approximately $1.83 billion in DEX trading volume over the past 24 hours, remaining one of the most active blockchain networks. During the same period, the network handled more than 99 million transactions, active addresses exceeded 2 million, and TVL approached $4.9 billion. Although these figures remain below the highs recorded during the previous bull market, they have improved significantly since June 2026.
Solana needs to reclaim $80 to extend its recovery
As expected, SOL successfully tested the 50-day simple moving average (SMA) near $74.26 and bounced from this level. However, the price has yet to reclaim the key $80 resistance.
If buyers fail to push the price back above $80, Solana could remain trapped within the $75.50–80.00 trading range.
At the same time, Solana's 30-day realized volatility has declined to 2.71%. Historically, similar levels have often preceded strong directional price moves.
Given the improving sentiment across the cryptocurrency market, SOL is likely to retest the $80 resistance. A decisive breakout and close above this level would increase the probability of a move toward $84.
Another encouraging signal comes from trading volume. Volume expanded during the rally in late June and declined during the correction that began on July 6, suggesting that selling pressure has remained relatively limited.
Solana underperforms, but fundamentals stay intact
Although Solana has recently underperformed Bitcoin and Ethereum, the network's underlying fundamentals remain solid. Continued growth in transaction volume, active addresses, and DEX activity indicates that user interest in the ecosystem remains healthy.
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