The Solana ($SOL) network is achieving record user activity, with 14.63 million active addresses recorded in the last 24 hours. This surge has captured investor interest, creating expectations for a potential price rally.
Solana Network Activity over 14.63 Million Addresses
According to data from Santiment, shared by user @ali_charts, Solana has recorded over 14.63 million active addresses in the past 24 hours. This is significantly higher than competitors such as Base, which logged 77.1 million transactions in a recent Cointelegraph analysis.
Price Chart and Forecast for Solana
A recent report highlights the formation of a ‘megaphone’ chart pattern, which may indicate a possible rally to the $210 mark. Breaking through the resistance level at $180 could act as a catalyst for this target, especially if the Relative Strength Index (RSI) exceeds 55.
Market Conditions and Potential Risks for Investors
As of now, the price of $SOL is $149.28, allowing room for growth if support holds between $130 and $150. However, past critiques, such as the lukewarm launch of the Saga smartphone in 2023, highlight potential risks for investors. Despite current activity indicating real adoption, caution is warranted due to cryptocurrency market volatility.
The activity of 14.63 million addresses on the Solana network reflects growing interest and a potentially favorable situation for further growth. Investors should closely monitor market changes and possible risks.
