1. Solana's Growth: Reaching 75M Active Addresses
2. SOL Price Resistance at $132
3. Impact of Solana’s Address Milestone on SOL Price Trends

The Solana network recently reached a key milestone of 75 million active addresses. Despite this significant growth in blockchain activity, the price of Solana (SOL) is struggling to break past the $132 mark. In this article, we’ll explore Solana’s latest achievements, price trends, and future prospects.

Solana's Growth: Reaching 75M Active Addresses

In September 2024, Solana surpassed the 75 million active addresses mark, setting a new all-time high for the network. This is a significant leap in user activity, seeing rapid expansion of decentralized applications (dApps), NFTs, and DeFi projects. Since early 2023, Solana's monthly active addresses have surged from 40 million to 75.2 million by mid-September. Solana is a fast and cheap blockchain network, making it a popular choice for developers and users. This rise in network activity has cemented its position as one of the top blockchains in the world. Moreover, the Solana token is widely used for staking and governance participation, which has increased demand for SOL.

SOL Price Resistance at $132

Despite the network’s growth, Solana's price is currently battling resistance at $132 and $140. Over the past week, SOL has tested this price level multiple times, but each attempt to break above has been met with significant selling pressure. At the time of writing, SOL is priced at $129.39, reflecting a 2.06% drop in the last 24 hours. The Solana price prediction indicates that the next major support level is at $120, with resistance near $132.50. If SOL fails to break through this level, the price could drop further, potentially testing the $120 support again. Solana’s recent transaction volume also shows bearish momentum, with $121.31K in short liquidations and $3.19M in long liquidations over the past 24 hours, suggesting increased volatility.

Impact of Solana’s Address Milestone on SOL Price Trends

The milestone of 75 million active addresses has added to the bullish sentiment surrounding Solana, though it hasn’t yet translated into a significant upward movement for the price. The Solana USD pair shows that Solana’s value is closely tied to market sentiment, and analysts are keeping a close eye on liquidity and volatility data. A potential breakout above $132 could bring Solana into a new bullish cycle, with targets around $140-$150. However, if Solana continues to face downward pressure, the price could fall below the $129 level, as suggested by the Solana prediction. The MACD indicator recently showed a bearish crossover, reinforcing the possibility of further declines if the current momentum persists. Despite short-term challenges, the long-term outlook for Solana remains positive due to its resilience and popularity among institutional players. The increasing usage of the token in various decentralized applications could catalyze future growth.

The future of Solana remains optimistic despite short-term challenges at the $132 level. With 75 million active addresses, the network is growing rapidly, deepening its market impact. As the ecosystem matures, SOL has the potential to overcome its current resistance and reach new heights.