Solana active addresses jump to 4.7M as SOL eyes $75 breakout
Solana’s active addresses surged to about 4.7 million over the past week, signaling renewed demand and improved network engagement. The key question for traders is whether SOL can sustain this momentum and clear major technical resistance.
On the daily chart, SOL has spent weeks struggling below major resistance after rebounding from around $59. Now it is testing an exponential moving average (EMA) resistance near $75. A decisive break above ~$75 could shift market structure and support a broader recovery.
On-chain, holder balances have risen alongside accumulating tokens, while circulating supply appears to have declined. This holder/supply divergence can increase scarcity and potentially drive price higher if demand persists.
Fundamental context is also supportive: Solana’s price-to-sales (P/S) ratio is around 2, which the article frames as relatively undervalued versus current trading levels. While P/S is not a direct short-term trading signal, it can influence longer-horizon accumulation.
Traders now have a clear path to monitor: first, SOL needs to clear the $75 EMA hurdle. If it succeeds, the next major resistance area cited is around $83, where prior selling pressure emerged.
Bullish
The article highlights converging bullish inputs for SOL: a jump in active addresses to ~4.7M, rising holder accumulation with supply appearing to contract, and a valuation context (P/S ~2) that can encourage incremental buying. Technically, the market is attempting to reclaim the $75 EMA area; this is the immediate catalyst. Historically, when network activity improves while supply tightens (fewer tokens returning to circulation) and price approaches a major moving-average resistance, break-and-hold moves often follow—especially if traders interpret the activity spike as “real demand” rather than short-lived hype.
Short term, traders may see volatility around the $75 test and watch confirmation candles/volume after any break. A failure would likely send SOL back to range trading or re-test lower support. Long term, if active addresses remain elevated and holders continue accumulating, the breakout thesis strengthens and could shift sentiment toward a sustained recovery toward the next resistance zone near $83.
Overall, the news is more supportive than harmful to market stability because multiple independent indicators (activity, supply/holder behavior, valuation) point in the same direction—raising the probability of a bullish continuation rather than a reversal.