Solana (SOL) is trading near a key resistance level at $155, with indicators suggesting a potential breakout.
On-chain activity on the Solana network has reached record highs with over 70 million transactions, indicating growing demand.
The Spent Output Profit Ratio (SOPR) for SOL has dropped below 1, signaling a potential market stabilization as weaker hands may have exited.
The MACD indicator has turned positive, lining up with a falling wedge pattern, hinting at bullish momentum and a potential rally towards $169 if SOL breaks above $155.