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Santiment: weak network growth prevents Solana from rising above $145
Analysts at Santiment reported that the price of the cryptocurrency Solana is attempting to break through resistance at the $145 level. The positive outcome of this move will determine whether network growth resumes.
According to Santiment, in November 2024 the number of new wallets on Solana reached 30.2 million per week. By comparison, in January 2026 this figure dropped to 7.3 million.
On the evening of January 13, SOL was trading at $143, gaining 1.9% over the past 24 hours. The altcoin has been fluctuating below the key resistance line in the $142–$144 range for an extended period.
Crypto analyst NekoZ pointed to a potential trend reversal following a prolonged downward movement on the daily chart. SOL broke through the descending trendline that had restrained growth since November, after forming a rounded bottom around $120 and stabilizing in early January.
Fibonacci retracement levels on the chart indicate that the current consolidation is taking place near the 0.786 level in the $142–$145 range, while the projected upward trend is aimed at the 0.618 level around $165 and the 0.382 level near $200, provided that momentum is maintained.
Another analyst, Crypto King, believes that the broken trendline has confirmed support, noting that bulls are in control and are preparing SOL for a move toward $170. At the same time, he urged waiting for further confirmation.
NekoZ also mentioned the formation of a bottom and a major breakout on the daily chart, suggesting that the next target zone lies above $190.
See also: "Zcash developers announced a new wallet a day after the split at Electric Coin Company"
