Solana’s price has pulled back roughly 25%, sliding from $127 to find solid support near the $100 level. This zone has held firm across multiple timeframes, triggering several rebounds.
On the four-hour chart, price action suggests a potential V-shaped recovery. Momentum indicators are also improving, with the relative strength index rebounding to 36 after dipping as low as 18 in deeply oversold territory.
The daily RSI paints a similar picture. After falling to 29 a level that has historically coincided with major SOL market bottoms the indicator is once again signaling a possible reversal, as it has done before previous rallies.
Key Resistance Levels Ahead
For further upside, Solana must clear several technical hurdles. Initial resistance sits between $113 and $115, where key descending trendlines converge. Beyond that, the $125–$130 range presents a tougher barrier, reinforced by both the 50-day exponential and simple moving averages.
A decisive breakout above these zones could open the door for a move toward $150, implying a potential upside of roughly 44% from current levels.
From a longer-term perspective, the weekly chart highlights strong structural support in the $95–$100 range. The last time SOL bounced from this zone, it surged more than 160%, rallying from April to September 2024. However, the 50-week moving average cluster between $140 and $160 has historically capped rallies and may slow any advance.
Crypto analyst Trader Tardigrade has also pointed out that SOL recently rebounded from the lower boundary of a descending channel, a move that could eventually carry price toward the $215 level near the channel’s upper resistance.
Network Activity Hits Record Levels
On-chain data continues to strengthen Solana’s broader narrative. Total value locked reached a new all-time high of 73.4 million SOL, equivalent to approximately $7.5 billion at current prices. This marks an 18% increase in just one week, surpassing the previous peak set in mid-2022.
Transaction activity has also surged, with daily transactions hitting 109.5 million the highest level recorded on the network in the past two years. Meanwhile, decentralized exchange volume has accelerated sharply. Daily DEX volume climbed to an eight-month high of 51.3 million SOL, while weekly volume reached a 12-month peak of nearly 265 million SOL.
$SOL/weekly#Solana is positioned at the bottom of a wide Descending Channel 👀 pic.twitter.com/YUbZlIZJIl
— Trader Tardigrade (@TATrader_Alan) February 2, 2026
User engagement is rising as well, with daily active addresses jumping 115% during the second half of January.
Standard Chartered Bets Big on Long-Term Growth
Standard Chartered recently updated its Solana price outlook. While the bank trimmed its end-2026 forecast to $250 from $310, it significantly raised its longer-term expectations.
The bank now projects SOL at $400 by the end of 2027, $700 by 2028, $1,200 by 2029, and $2,000 by 2030. From current levels near $100, that would represent an upside of roughly 1,900%.
According to Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, Solana is increasingly positioning itself as a leading blockchain for micropayments and stablecoin usage. Stablecoins on Solana reportedly circulate two to three times faster than on Ethereum, while trading activity on decentralized exchanges is shifting away from memecoins and toward SOL-stablecoin pairs.
Cost efficiency remains a key advantage. Solana’s median transaction fee sits near $0.0007, significantly lower than alternatives like Base, where fees average closer to $0.015. This pricing structure allows Solana to process transaction volumes that many competing networks struggle to handle profitably.
Bitcoin Hyper Brings BTC Speed to Solana
Beyond Solana itself, new projects are emerging that aim to combine its speed with Bitcoin’s security. Bitcoin Hyper ($HYPER) is positioning itself as a next-generation layer that brings Solana-style performance to the Bitcoin ecosystem.
While Bitcoin remains the benchmark for decentralization and security, Bitcoin Hyper introduces fast, low-cost smart contracts, decentralized applications, and even meme coin creation — all anchored to Bitcoin’s base-layer security model.
The project has already completed an audit by Consult and is gaining traction rapidly. Its presale has raised over $31.4 million, with tokens currently priced at $0.013665 ahead of the next scheduled increase.
As Bitcoin activity continues to grow and demand rises for efficient BTC-based applications, Bitcoin Hyper is emerging as a potential bridge between two of crypto’s most influential ecosystems. Where Bitcoin laid the groundwork, Bitcoin Hyper aims to make it faster, more flexible, and accessible to a broader generation of users.
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