Solana Must Hold $124 as Analysts Track Key Support Levels and Rising Network Activity

Solana must hold the $124 support level to avoid deeper drops toward $115 and $106.

Network activity grows with rising TVL, strong DEX volume, and over 2 million active addresses.

Analysts track firm ecosystem expansion across DeFi, NFTs, apps, and institutional inflows.

Solana traded at $138.36 at the time of writing, while analysts continued to monitor how price moved around major support levels. Market data showed steady on-chain activity across several sectors, and the network recorded wider ecosystem growth. Analysts stated that Solana must hold $124 to avoid a drop toward $115 or even $106, based on current chart readings and historical structure.

Market Structure and Key Trading Zones

According to an analysis prepared by Ali Charts, Solana traded near $131 earlier in the week after moving down from the $144 area. The chart showed repeated swings between $128 and $136, and it also showed a quick move toward $126 before the price returned to the mid-$130 zone. The market then formed sideways movement near $132 as trading activity settled within a narrow range.

Analysts continued to monitor $124 because earlier readings showed firm reactions at that level. According to an observation by market desks, $124 acted as a defensive zone during earlier declines. Chart data placed $115 as the next area of interest, and $106 formed a lower boundary in earlier phases. Analysts also watched $132 and $128 because these zones shaped recent intraday movement.

Source: Gordon(X)

A long-term review prepared by Gordon showed Solana forming higher lows from 2021 through mid-2024 before moving above multi-year resistance. The chart then recorded steady movement through 2025 and early 2026 as price continued along an upward path.

On-Chain Activity and Network Growth

According to DeFiLlama, Solana recorded $8.987 billion in total value locked with a 5.34% rise during the last 24 hours. Stablecoin value reached $15.377 billion, chain fees totaled $578,123, and chain revenue reached $84,282 during the same period

Source: DeFiLlama

DEX volume reached $3.906 billion, while perpetual volume stood at $1.222 billion across major markets. App revenue reached $3.12 million, and app fees totaled $7.23 million. Network data showed 2.03 million active addresses and $2.73 million in inflows

Analysts noted that activity increased across DeFi, NFTs, and consumer applications, while institutional products tied to Solana also recorded steady inflows. Social activity around Solana grew as mentions increased across entertainment and culture discussions.

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