Solana (SOL) Surges: Network Activity Skyrockets as Traders Target $180 Breakout

Solana's blockchain just went supernova—transaction volumes are spiking, developer activity is redlining, and traders are salivating over a potential $180 price surge.

Network metrics scream bullish

Daily active addresses doubled in a week while NFT volumes ate Ethereum's lunch. Validator queues are packed like a Wall Street IPO roadshow.

The trader calculus

SOL's chart paints a clear picture: break through $150 resistance and the path to $180 opens up. Shorts are getting liquidated faster than a failed hedge fund.

Meanwhile in TradFi land...

Bankers are still trying to explain to clients why their 'blockchain initiatives' can't match Solana's 50k TPS. Spoiler: it's the centralized database pretending to be a chain.

This isn't just momentum—it's a full-blown network effect avalanche. Whether SOL punches through $180 or gets smacked down, one thing's clear: the smart money's already positioned.

TLDR

• Solana network processed over 64.5 million transactions with 3.07 million returning users in 24 hours
• SOL price rallied 8% to $145 following Israel-Iran ceasefire announcement but remains below key $180 resistance
• Spot trading volume shows cooling signals despite increased network activity
• Technical analysis suggests potential drop to $106 if bulls fail to break $180 resistance
• Analysts target $175-$200 if bullish momentum continues from geopolitical developments

Solana’s network activity reached new heights with over 64.5 million transactions processed in the last 24 hours. The blockchain also recorded 3.07 million returning users during this period according to DefiLlama data.

This surge in network engagement shows growing user adoption across the solana ecosystem. The increased activity comes despite broader market uncertainty affecting other cryptocurrencies.

However, the network’s strong fundamentals have not translated into equivalent price gains. SOL continues to trade below the critical $180 resistance level that analysts consider key for a bullish breakout.

The cryptocurrency experienced an 8% surge to $145 following news of a ceasefire between Israel and Iran. US President Donald Trump announced the “complete and total” ceasefire via Truth Social on June 23, 2025, ending what he called the “12 Day War.”

US futures rally as TRUMP announces Israel-Iran ceasefire 🚀

🔹 Dow $YM +0.9%
🔹 S&P 500 $ES +1%
🔹 Nasdaq $NQ +1.3%

Fed Chair Powell testifies before Congress today, will he drop any rate clues? pic.twitter.com/0hfR9wUsyw

— Trader Edge (@Pro_Trader_Edge) June 24, 2025

The geopolitical development triggered a broader cryptocurrency rally. Bitcoin broke past $106,000 while ethereum reached $2,400 as markets responded positively to reduced tensions.

Spot Volume Lags Network Growth

Despite the network activity surge, Solana’s spot trading volume remains subdued. CryptoQuant data shows cooling signals in the spot volume bubble map.

This disconnect between user engagement and investor conviction suggests traders remain cautious. The increasing network activity has not yet translated into significant spot market interest.

Analysts note that rising network metrics are encouraging but require confirmation through technical price action. SOL needs to break above key resistance levels to validate the bullish network fundamentals.

The daily chart shows Solana forming a potential inverted head and shoulders pattern. This technical formation could signal a bullish reversal if confirmed with a breakout above $180.

Technical Resistance Holds Key

The $180 level represents a crucial barrier between bullish and bearish sentiment. A decisive break above this resistance could invalidate bearish patterns and confirm a trend reversal.

If Solana fails to breach $180, the current network activity surge may be viewed as temporary. This could lead to a potential decline toward $106 support levels.

Technical indicators point to resistance at $175 and support at $125 based on current price action. The gap between strong on-chain metrics and muted price performance highlights the need for technical confirmation.

Market participants are watching for signs that network growth will translate into sustained price appreciation. The ceasefire announcement provided temporary bullish momentum but long-term trends depend on breaking key resistance.

Analysts suggest SOL could target $175 and potentially $200 if the current bullish sentiment continues. However, uncertainties remain regarding the durability of the geopolitical truce.

Trading volume and investor conviction will need to align with network fundamentals for a sustained rally. The $180 resistance level remains the critical test for Solana’s near-term price direction.