SOL Targets $170 Breakout Amid Surge in Blockchain Users

• Solana leads blockchain activity with 18.2M weekly active users.
• A breakout above $170 may trigger a rally toward $188 and beyond.

Solana (SOL) is showing signs of bullish momentum as it approaches a major resistance level. Crypto analyst Ali Martinez highlighted a cup-and-handle pattern on Solana commonly associated with bullish continuation. He noted that a sustained weekly close above the $170 mark could trigger an extended rally. 

Current price action shows SOL trading around $162.89 after a 6.11% weekly surge. This places it just below key resistance, with buyers attempting to flip the $164–$170 zone into support.

According to Fibonacci extension levels, SOL could target as high as $2,000 in a bullish scenario. Intermediate levels to watch include $250, $450, and $800. 

However, a failure to break above $170 may result in a retracement toward the $90–$100 support range. Martinez pointed to a falling wedge breakout and increasing volume as technical signs favoring the bulls.

User Activity Ranks Solana at the Top

User engagement metrics from the week show Solana leading in weekly active users with 18.2 million. This places it ahead of BNB Chain at 16.7 million and NEAR Protocol at 16.2 million. Other networks such as Base (7.6M) and Jito (7.0M), also saw strong activity growth.

The surge in users suggests growing traction for Solana’s ecosystem amid increasing demand for decentralized applications. Total activity across the top 10 chains reached 92.1 million users, indicating rising interest beyond Bitcoin. 

Analysts view this trend as an early signal of a potential altcoin season, with capital rotating into scalable layer-1 platforms like Solana.

Resistance Retest Could Define Short-Term Trend

After forming higher lows since late June, SOL is testing the $164–$170 resistance range for the third time. The asset recently faced rejection just below $168, signaling cautious sentiment among traders. 

A successful breakout and hold above $170 would set up a possible move toward the next resistance at $188.28.If the breakout fails, support levels remain near $144.01 and $134.54. 

The current consolidation below resistance, combined with technical patterns and surging volume, positions SOL as a leading asset to watch. Analysts agree that momentum must hold above the neckline for bullish continuation to remain valid.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.