The post Solana network usage jumps 56% – Is $147 zone next for SOL? appeared on BitcoinEthereumNews.com.

Solana’s on-chain metrics expanded sharply, signaling renewed demand beneath the recent rebound.  Active Addresses surged 56% week-over-week to 27.1 million, while Weekly Transactions climbed to 515 million, therefore confirming sustained usage. This scale matters because price strength often follows persistent network engagement.  However, activity alone rarely drives rallies. In this case, usage growth aligned with price stabilization near $119.8–$135.5 demand.  Consequently, the recovery gained structural backing. Moreover, such transaction volume highlighted capital rotation into Solana’s [SOL] ecosystem.  Still, activity must remain elevated. A drop below recent averages could weaken conviction. For now, usage metrics support the view that buyers regained control beneath price. Solana breaks free from its regression downtrend Price action confirmed a structural shift as SOL exited its multi-month regression downtrend. Buyers defended the $119.8 low before pushing the price above descending resistance.  The breakout reclaimed the $135.5–$147.1 zone, flipping it into support. Previously, rallies stalled below this region. However, this move held.  Consequently, downside pressure weakened. Moreover, the price traded near $142, maintaining higher lows.  This structure favored continuation if $135.5 holds. Still, failure to defend this zone could reopen downside risk toward $119.8.  For now, price structure supports a transition from correction into recovery, therefore favoring upside attempts. Source: TradingView Momentum indicators reinforced the improving structure as MACD crossed higher from negative territory. The MACD line rose to 3.60, overtaking the signal line near 2.92, while the histogram turned positive at 0.68.  This shift reflected fading sell pressure rather than overextension. Earlier bounces failed without momentum confirmation.  However, this crossover aligned with reclaimed support. Moreover, expanding histogram bars suggested a strengthening trend force. Still, momentum requires continuation. A flattening histogram could signal consolidation. Traders lean long as confidence quietly rebuilds Derivatives data showed traders positioning increasingly on the long side. Binance top trader accounts held 76%…

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Filed under: News - @ January 18, 2026 8:07 pm