Solana Smashes Records, But Price Stalls at $120.80
Solana's network activity has seen significant growth in the third quarter, processing a record 14.2 billion non-vote transactions. This marks a 45% increase compared to the previous quarter, with Solana's native token SOL struggling to break through key technical resistance levels.
Despite the notable growth in network activity, SOL has been unable to surpass the $120.80 resistance level, leading market participants to focus on whether renewed buyer momentum could lift the token toward higher targets.
The divergence between robust fundamental activity and sluggish price movement has prompted closer scrutiny of technical factors as traders await potential signals of a trend reversal.
The token's price has consolidated for about a week, with momentum from the September 16 low tapering off. This pause has left investors focused on whether further upside action can resume if buyers retake short-term control of the trend.