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I noticed in the past few hours that the net buying on Solana has risen quite significantly. Indicators show that the bulls have started to take control of the market after a period of fluctuation, and the price is now approaching the 87-dollar level, which was considered an important target.
The current price of the asset has stabilized around 87 dollars and a quarter, up slightly over the past 24 hours. What’s noteworthy is that this rise came after the liquidation of some long positions with leverage, which is usually a positive sign. But to be honest, there is strong resistance just below the current price level around 82 dollars, so a breakout above 87 is not guaranteed.
What makes me a little optimistic is that network activity on Solana is continuously improving. In just the first quarter alone, the network handled more than 10 billion transactions. Daily active addresses jumped wildly from 400,000 to 4 million. Stablecoins on the blockchain have doubled fourfold to roughly 15 billion dollars. Even decentralized exchange trading volumes jumped into the trillions, and application revenues reached billions. This suggests that Solana isn’t just seeing a price move—there is real activity on the network.
The question now is whether this strong buying is enough to push the price higher. Technically, if the 82-dollar level holds, we may see a strong rebound. But if it breaks down below that, we could return to the previous range. Time will tell.