Solana (SOL) Primed for Breakout as Network Revenue Hits New Highs – Charts Flash Bullish Signals

Solana's revenue engine is firing on all cylinders—just as technicals hint at an impending surge. Forget 'quiet quitting,' SOL's network is doing the exact opposite.

The Fee Factory: Solana's on-chain activity keeps minting revenue like a DeFi printing press. No speculative fluff—just raw transactional demand.

Chart Whisperers Take Note: That ascending triangle pattern isn't just pretty lines. It's the same formation that preceded SOL's 2021 mega-rally. History doesn't repeat, but it sure rhymes.

Wall Street's still trying to short ETH while SOL eats its lunch. Some things never change—like institutional FOMO arriving fashionably late to the party.

TLDR

• Solana (SOL) generated over $271 million in Q2 2025 network revenue, leading all blockchains for the third consecutive quarter
• Artemis data shows Solana matched all other L1 and L2 chains combined in monthly active addresses during June 2025
• SOL price fell 1.45% to $149.21 but defended key $149 support level after testing below $150
• Technical analysis shows an inverse head and shoulders pattern forming with potential breakout above $155
• Analysts target $200+ price levels if SOL breaks above key resistance at $160-$184

Solana maintained its position as the leading blockchain by network revenue in Q2 2025. The network generated over $271 million during the quarter.

📊REPORT: In Q2 2025, @Solana surpassed all L1 & L2 chains in network revenue, its 3rd consecutive quarter leading all chains.

– Revenue: $271 million+ pic.twitter.com/ThpsVv97w5

— SolanaFloor (@SolanaFloor) July 7, 2025

This marks the third consecutive quarter that solana has topped all other blockchains in network revenue. The revenue comes from transaction fees and out-of-protocol tips.

Solana’s network activity reached new heights in June 2025. Data from analytics platform Artemis shows the blockchain matched all other L1 and L2 chains combined in monthly active addresses.

The user growth comes alongside the record-setting network revenue figures. These metrics highlight Solana’s position as one of the most actively used blockchains.

SOL price action remained volatile despite the strong network fundamentals. The token declined 1.45% over the past 24 hours, falling from $151.41 to $149.21.

The trading session saw a wide $4.58 range with SOL peaking at $153.67. A sharp sell-off later drove prices below the key $150 psychological level.

Volume increased NEAR the session low at $149.09. This suggested buyer interest at the $149 support zone.

SOL recovered slightly to $149.31 by the end of the trading period. The defense of the $149 level proved crucial for short-term price stability.

Technical Analysis Points to Potential Breakout

Chart patterns are beginning to align with Solana’s strong fundamentals. Technical analysts have identified an inverse head and shoulders formation developing.

$SOL

Inverse head and shoulders potentially setting up pic.twitter.com/UtOIwxW42f

— Nebraskangooner (@Nebraskangooner) July 6, 2025

The neckline sits just below $155 with price currently hovering around $152. A clean breakout above $155 could shift short-term momentum toward the $165-$170 range.

The pattern has been developing over several weeks with higher lows forming the right shoulder. Volume has remained steady throughout the formation.

Solana recently reclaimed a key support-resistance zone on the 4-hour chart. Price pushed back above the $150-$152 area and held firm.

This type of support reclaim often acts as a trigger point for further upside moves. The breakout above this local range puts SOL in a stronger technical position.

Revenue Leadership Drives Long-term Outlook

The consistent network revenue growth reinforces Solana’s fee model sustainability. This economic throughput continues even during volatile market conditions.

Solana’s Q2 performance placed it ahead of major competitors including Tron, Ethereum, and Bitcoin. The revenue leadership reflects growing consistency across the Solana ecosystem.

When networks consistently generate high revenue levels, price often follows fundamentals. The gap between utility and market value could narrow over time.

Analysts point to several factors that could drive the next move higher. Bitcoin trading near all-time highs could spark broader on-chain interest.

The potential launch of a Solana ETF opens doors for institutional inflows. This could provide additional buying pressure if price holds above key levels.

$SOL is just taking test of our patience.

For now, it is in consolidation phase and close candle above $184, then get ready to open your longs.

Solana may start to run with these ETF inflows.

Sol range is clear in front of us we just have to wait to break it.

Meanwhile,… pic.twitter.com/yVNR4pNtSW

— Alek (@Alek_Carter) July 6, 2025

Key resistance levels remain at $160 and $184 according to technical analysis. A breakout above these levels could target $200 and potentially $219.

The $260-$300 zone represents major resistance if momentum continues. ETF inflows could provide the catalyst needed to break through current ranges.

SOL trading volume exceeded 57,000 tokens during the final hour of the session on July 7. Buyers defended the $149 support zone triggering a 0.37% rebound from session lows.