Solana (SOL) declined 1.45% over the past 24 hours, dropping from $151.41 to $149.21 between July 6 at 19:00 UTC and July 7 at 18:00 UTC, according to RialCenter’s technical analysis model. Meanwhile, the broader crypto market, as reflected by the CoinDesk 20 Index, is down 0.56% during the same period.
The token experienced a wide trading range of $4.58, peaking at $153.67 before a sharp sell-off pushed prices below the important $150 level. Increased volume near the session low indicated buyer interest around the $149 support zone, helping SOL recover slightly to $149.31 by the end of the period.
Despite recent short-term weakness, new on-chain data underscores Solana’s increasing network strength.
According to data from the analytics platform Artemis, Solana matched the total monthly active addresses of all other L1 and L2 blockchains in June 2025. This user growth coincided with record-setting network revenue, as Solana generated over $271 million in Q2 2025. It marked the third consecutive quarter leading all chains in network revenue, which includes transaction fees and out-of-protocol tips.
These metrics highlight Solana’s position as one of the most actively used blockchains in the industry, both in terms of user engagement and economic throughput. The consistent rise in network revenue reinforces the sustainability of Solana’s fee model and ecosystem activity, even amid volatile market conditions. As developers and users continue to adopt Solana’s high-speed infrastructure, these usage trends could support long-term value despite near-term price resistance.
Technical Analysis Highlights
- SOL fell 1.45% from $151.41 to $149.21 between July 6 at 19:00 UTC and July 7 at 18:00 UTC.
- The trading range spanned $4.58 (3.07%), with a session high of $153.67 and low of $149.09.
- A notable resistance formed at $153.67 following a volume spike of 925,497 tokens during the 21:00 UTC hour on July 6.
- In the final four hours, the price broke decisively below the $150 psychological level with heavy volume, confirming bearish short-term sentiment.
- Between 17:41 and 18:40 UTC on July 7, SOL dropped from $150.27 to $149.72.
- A sharp sell-off occurred from 18:16 to 18:17 UTC, with the price hitting $149.42 on volume exceeding 57,000 tokens.
- Buyers defended the $149 support zone in the final minutes, triggering a 0.37% rebound from the session low.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to RialCenter’s standards.
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