Solana (SOL) price stands around $200 at press time, showing a growth of 9% over the past 24 hours and 8% over the month. The recent increase comes amid a record level of transactional activity on the network.
Optimism Surrounding Solana Price
Solana's price remains above $200 after several sessions of downward pressure. Analysts suggest that maintaining this range signals continued demand despite the market’s uncertainty. The chart structure showed an inverse head-and-shoulders pattern on the 12-hour timeframe, often seen as a potential reversal signal. The current base around $180 created a zone for buyers to defend.
Support from Solana Network Growth
Amid the price rally, on-chain data showed consistent growth in the SOL network activity. Transaction counts have steadily risen, indicating real-world usage. Mert from Helius reported that successful transactions have continued to rise. Although reverted transactions occurred, successful ones far outnumbered them, suggesting improvements in network efficiency.
Transaction Milestone and 2025 Outlook
Solana set a new throughput record as its real transactions per second crossed 2300. This level had not been reached before, indicating the network's ability to handle heavier workloads during strong demand. Analysts noted reliable throughput is essential for maintaining investor confidence. Chart watchers cited the $294 level as the upper boundary of SOL’s current structure, with support near $200.
Solana's price demonstrates resilience at the $200 mark, potentially leading to further gains. Analysts highlight the importance of technical levels and rising network activity as a foundation for future increases.
