Recently, the Solana network has shown impressive ecological vitality, laying a solid foundation for its future development.

The latest statistics reveal that the total number of trading addresses on the Solana decentralized exchange (DEX) has surpassed 750 million. Although 96.6% of these addresses have a lifespan of less than 24 hours, possibly related to certain short-term speculative activities, what truly deserves attention is the group of long-term active users.

The data shows that the number of addresses in the Solana ecosystem that have been active for between one month and one year remains between 5.5 million and 6.3 million. Even more remarkable is that over 1.8 million addresses have been active for more than a year, with an average active time of up to 655 days. These figures strongly demonstrate that Solana has a large and highly sticky long-term user base.

In terms of short-term market performance, the SOL token is facing certain adjustment pressure. Technical analysis shows that after experiencing a significant decline, market trading activity has decreased. Although the MACD indicator shows that the bullish momentum is gradually strengthening, the KDJ indicator remains in a neutral state, and the overall market continues to exhibit a fluctuating downward trend.

Currently, the key support level for SOL is at $199, while the resistance level is around $212. For investors looking to trade, it may be worth considering buying near $192.26 and $197.77, while selling could be considered near $212 and $212.98.

Although the SOL price may continue to fluctuate in the short term, Solana's strong on-chain user base provides strong support for its long-term value. This makes the risk of buying near key support levels relatively manageable. The clear oscillation range provided by technical analysis offers clear guidance for investors to capture short-term fluctuations.

In the current market environment, investors may need to wait for a clearer macro direction. However, short-term trading strategies supported by technical analysis and on-chain data may still provide relatively robust investment opportunities for cautious investors.