Solana (SOL) is currently consolidating around $140. Despite a surge in 24-hour trading volume to over $5.6 billion, it remains difficult to break through the resistance zone of $142-$145. On-chain data shows that the weekly new wallet count has dropped sharply from the peak of 30.2 million in November 2024 to just 7.3 million, which may limit its upward momentum. Analysts point out that breaking the downtrend line is key, with $131 being an important support level. If the price can hold the support and on-chain growth resumes, they believe the potential target prices could reach $165-$170, or even $190-$200.
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Solana (SOL) is currently consolidating around $140. Despite a surge in 24-hour trading volume to over $5.6 billion, it remains difficult to break through the resistance zone of $142-$145. On-chain data shows that the weekly new wallet count has dropped sharply from the peak of 30.2 million in November 2024 to just 7.3 million, which may limit its upward momentum. Analysts point out that breaking the downtrend line is key, with $131 being an important support level. If the price can hold the support and on-chain growth resumes, they believe the potential target prices could reach $165-$170, or even $190-$200.