**Solana Price Nears Key Resistance as Address Growth and Futures Open Interest Surge**
Solana (SOL), the native cryptocurrency of the Solana ecosystem, has experienced a notable recovery, currently trading at $144.75 after a 1.63% surge during Friday’s U.S. market session. This upswing places SOL less than 2% away from challenging a crucial resistance trendline at $146.5, a level that has held steady as a downtrend barrier since mid-September 2025.
### Strong Growth in Network Participation
One of the key drivers behind Solana’s recent price movement is the significant expansion in network activity. Over the past two weeks, the number of addresses on the Solana network has climbed from roughly 3.13 million to over 5.18 million. This rapid increase in wallet creation highlights growing user adoption, with more individuals and entities leveraging Solana’s fast and low-cost infrastructure for transfers, DeFi protocols, and other applications.
### Robust Futures Market Activity
The momentum extends into the derivatives market as well. According to data from Coinglass, open interest in Solana futures contracts has risen from $6.8 billion to $8.86 billion. This marked increase suggests that traders are adding leveraged positions and demonstrate renewed conviction in the token’s potential upside. Rising open interest in futures is often a strong indicator of bullish sentiment among market participants.
### Technical Indicators Point to Potential Breakout
From a technical standpoint, the short-term trend reflected in the 20-day and 50-day exponential moving averages (EMA) is currently flattish, indicating sideways price action. However, a potential bullish crossover between these EMAs signals renewed recovery and growing momentum for SOL.
If Solana successfully breaks above the key resistance at $146.5, it could trigger a strong upward move, possibly driving the price up by 17% to challenge the next resistance level at $172. On the flip side, if supply pressure persists at this trendline and the breakout fails, SOL may revert to a downtrend, potentially declining about 16.5% to test support near $116.8.
### Market Context and Outlook
Since last month, Solana’s price has surged from $116.8 to $145, registering impressive growth of approximately 24.5%. Concurrently, the asset’s market capitalization has expanded to $81.8 billion. This bullish upswing aligns with a broader market recovery, including Bitcoin’s reclaiming of the $90,000 mark, but Solana’s accelerated rally reflects stronger on-chain and derivatives market dynamics.
In summary, growing wallet creation and increasing futures open interest underscore strengthened participation and confidence in the Solana network. As SOL approaches the critical resistance trendline, market watchers will be keenly observing whether the token can sustain its bullish momentum or face a potential pullback.
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**Disclaimer:** Cryptocurrency investments are highly volatile. Traders should conduct their own research and consider risk management strategies when engaging in market activities.
https://www.cryptonewsz.com/solana-price-area-trend-direction-at-stake/
