Solana Price Holds $125 Support as On-Chain Activity Surges
Solana (SOL) trades near $126.50 after a 49% slide from its September peak, posting a mild 0.75% daily gain but a 10.2% weekly decline. Despite the downturn, on-chain activity is rising: new wallet addresses and interactions are up, signaling early accumulation. With a circulating supply of 560 million SOL and a market cap of $70.7 billion, SOL now sits in a critical $125–$130 support zone. Analyst 0xBossman sees this range as a calculated entry, with a tight stop-loss at $120. Meanwhile, Crypto Tony emphasizes that reclaiming $130 is essential to flip the market structure. A clear move above $130 could target $135–$140, while rejection risks a fall back to $124 or even $120. Traders should watch these levels closely: a successful breakout could spark bullish momentum, whereas failure would reinforce downside pressure.
Bullish
On-chain metrics are diverging from Solana’s price drop, with wallet growth and interactions rising at a critical $125–$130 support zone. Historical precedents show that such divergences often mark accumulation phases before a rebound. Analysts highlight $130 as key to flipping market structure; a successful reclaim could trigger momentum toward $135–$140, while failure risks further downside. The combination of strong on-chain fundamentals and clear technical thresholds points to a cautiously bullish outlook in both the short and medium term.