Solana (SOL) is staging a strong upward move, climbing nearly 7% over the past 24 hours as the network sees a sharp uptick in usage and investor interest. After decisively breaking past $159, the token is eyeing $165 as the next resistance level, with momentum building across both technical and on-chain indicators.

Data from Solana’s ecosystem shows a surge in daily active addresses and transaction throughput, indicating heightened engagement despite broader market uncertainty. The breakout has been accompanied by solid trading volume and rising support levels, pointing to sustained buyer interest.

Analysts tracking SOL note that the token rebounded quickly from intraday lows, with the rally finding firm footing around key Fibonacci retracement levels. Bullish structure remains intact as long as price stays above the $159 zone, now viewed as a crucial near-term support.

Market Snapshot:

• Daily Performance: SOL gained 6.9%, moving from $153.66 to $159.92 within a $10.57 range.
• Breakout Trigger: A clean move through $155.55, backed by increasing volume, signaled bullish intent.
• New Resistance: Rejection at $162.46 creates a potential double top, with $160.20 also acting as an interim ceiling.
• Support Zones: Buyers stepped in at $151.89–$152.21 and again defended $159.85 late in the session.
• Momentum Indicators: 61.8% Fib level at $159.73 held strong, while volume spikes confirmed conviction.

Traders are now watching for a decisive break above $162 to validate the next leg higher. If bulls can maintain control, a push to $165 could be imminent.