In early 2026, Solana (SOL) has captured the attention of investors as it demonstrates resilience above the crucial $130 benchmark. After navigating a phase of minimal fluctuation, SOL has recorded notable increases, piercing through previous resistance levels that had limited growth.

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This upswing coincides with a surge in overall crypto market performance and follows significant upgrades to Solana’s network and its increasing on-chain activities. As SOL remains anchored above a vital support base, the focus for analysts is whether this positive momentum can lead to a more substantial recovery.

Solana’s Price Performance and Market Dynamics

Currently, Solana (SOL) is trading just above the $135 threshold, showing a recent improvement of over 1% in trading activity over the last 24 hours. The price has effectively safeguarded the $130-$135 barrier, which had previously acted as a significant point of resistance.

A breakthrough past $132, along with the 100-hour simple moving average, highlighted a positive shift in short-term trends, nudging buyers to elevate SOL to approximately $138, albeit with a slight retraction afterward.

Key technical indicators suggest an accelerating upward trend. The Relative Strength Index is above 50, indicating that buy orders are currently more forceful than sell orders, while the hourly MACD indicates strengthening bullish activity.

A newly established upward trend line situated around $135 is now functioning as immediate support, with further downside protection around $130. If SOL fails to maintain this support, there is potential for a deeper retraction towards $128 or even $120. However, in the present scenario, market structure suggests a bias toward stability.

On the upper side, resistance looms between $138 and $145. A stable closing above $145 may unlock opportunities for movement into the $150-$155 range, a region last seen during prior bullish runs.

Shifts in On-Chain Activity Reflect Growing Adoption

In addition to price analysis, Solana’s on-chain statistics have become increasingly compelling. In 2025, the network processed an estimated $1.6 trillion in on-chain spot trading volume, representing about 12% of the overall spot trading in cryptocurrency markets.

This marks a significant leap from prior years when Solana’s influence on trading flows was marginal.

This trend underscores a larger movement toward high-efficiency blockchains as traders and developers focus on faster processing times and reduced transaction costs. The growth in stablecoin activity and decentralized exchanges on Solana has strengthened liquidity within the platform, diminishing dependence on centralized exchanges.

Technical Upgrades Enhance Future Prospects

Recent technical advancements on Solana’s platform also play a critical role in bolstering its price stability. The implementation of the Firedancer validator system is designed to optimize transaction flows and enhance network reliability, addressing past issues related to congestion and downtime.

With increased block capacity and improved computational capabilities, these upgrades are tailored to support elevated transaction levels without significant pressure on fees.

As Solana broadens its applications in payments, NFTs, gaming, and prediction markets, its user demographics are noticeably diversifying.

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Though short-term fluctuations are anticipated, the blend of strong support levels, enhancing technical indicators, and solidifying fundamentals paints a clearer picture of positive momentum for Solana.

Image Credited: Chart from TradingView