The Solana price is stabilizing at key support while momentum indicators signal slowing selling pressure. Where’s SOL headed?
Solana’s latest move looks less like a slow, steady climb and more like a quick reset after a sudden shakeout. In the 24-hour snapshot, SOL is holding around $132.23 (about 0.7% pump on the day), after dipping near $129.28 and then snapping back toward the $132.80 intraday high.
Notably, the daily chart is a V-shaped rebound followed by steadier, higher steps, suggesting buyers defended the lows and then kept pressure on the upside.
Under the surface, activity remains heavy, with roughly $3.16B in 24-hour volume and a market cap near $74.3B. Still, the wider tape is mixed: SOL is down 4.2% on the week and down 6.2% over 30 days, which keeps the bigger trend from looking fully repaired. The key question now is whether this bounce is just relief, or the start of a more durable push.
Is Solana Price Stabilizing?
Solana’s daily chart shows price stabilizing after a prolonged decline from the $240 area achieved earlier in September.
Recent candles are however clustering around the $130–$145 zone. This range has acted as short-term support, as repeated attempts to push lower have failed to gain follow-through. While the broader trend remains bearish due to a series of lower highs, the slowing downside move suggests sellers are losing momentum near current levels.
Momentum indicators support this view. The RSI is holding around 43, below the neutral 50 mark but well above oversold territory. This indicates weak momentum rather than aggressive selling.
At the same time, the Chande Momentum Oscillator remains around neutral, showing that bearish pressure has faded compared with earlier sell-offs. Together, these indicators point to consolidation rather than continuation of the downtrend.
From a technical perspective, $130 remains the key support to watch, with deeper downside risk opening toward $125 and $122 if this level breaks. On the upside, $140 stands as the first meaningful resistance, followed by the $155–$160 zone where previous breakdowns occurred.
Usage Metrics Put Solana Ahead in 2025
Meanwhile, adding to the bullish momentum, Jon Ma, co-founder and CEO of Artemis, said that Solana stands out as the most used blockchain in 2025 when measured by on-chain activity rather than capital-based metrics.
According to Ma, Solana ranks first across several key usage indicators. Specifically, he noted that the network leads in monthly active users with about 98 million, roughly five times more than Base.
Solana also tops transaction count with approximately 34 billion transactions, far ahead of BNB Chain. In addition, Ma highlighted that Solana recorded the highest trading volume at $1.6 trillion, surpassing Ethereum, while also leading in application fees at $5 billion and network revenue at $1.5 billion.
However, Ma emphasized that Ethereum continues to dominate in several important areas. He said Ethereum remains ahead in total transfer volume, total value locked, developer activity, and stablecoin supply, where Solana ranks between second and third.
Even so, Ma concluded that based strictly on user activity and transactional usage, Solana can be considered the most used blockchain network in 2025.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
