Solana Price Stuck Below Recent Highs Amid Record Network Activity

Solana's recent price performance has been an unusual story as network usage accelerates while the SOL token remains below its recent highs.

The Solana network recorded its highest quarterly total for non-vote activity, with a 45% increase from Q2 to Q3. This milestone has not automatically translated into a higher token valuation, as seen in the SOL price chart.

Despite the record-breaking activity, the SOL crypto price still needs to break through the resistance zone between $120 and $125 to reach its next target. Analysts have identified $150 as a potential target after tracking U.S. spot Solana ETF accumulation.