Solana has now reached an all-time high true transactions per second (TPS) of 1,318 across July on average. This is a new Layer 1 benchmark for real user activity. These are non-vote transactions, SolanaFloor explains, which means they represent real on-chain usage rather than internal consensus traffic.
Transaction growth has been constant for months now, rise shows long-term adoption rather than short-term moves. If sustained, such performance could soon reflect in SOL’s price. For now, strong fundamentals are building a quiet base for an explosive move. Solana’s network usage is now a major bullish indicator.
Solana price action aligns with bullish fundamentals
The Solana chart shows strength amidst overall market vulnerability. CryptoJelleNL’s assessment shows the recovery of previously fallen resistance areas for SOL, most importantly the $140–$150 region. These areas now provide support with a bullish stair-step formation typical of large bullish breakouts in favorable technical formations.
The structure of the price is clear. Higher lows are being maintained. A solid rally can be prompted if SOL crosses beyond $200. This convergence of bullish on-chain activity with chart patterns bespeaks a highly positive mid-term for Solana, more so if the sense of momentum keeps gathering across all avenues.
A recent liquidation heatmap from 5.0Trading shows a major cluster at $188. Nearly $51.8 million in open interest is stacked near this level. With SOL holding key supports and climbing, this liquidity zone could attract price like a magnet if upward momentum sustains in the coming days.
Heatmaps often reveal short-term targets. With whales accumulating, TPS hitting records, and technicals showing strength, $188 becomes a realistic target. Traders may watch this zone closely as a likely interim test before Solana attempts to break above its higher resistance bands around $200.
Ascending triangle points to $280–$300 target
Daniel Ramsey’s chart reveals an ascending triangle forming under the $185–$210 resistance band. The pattern, featuring rising lows and flat highs, suggests strong buying pressure. If SOL confirms a breakout, targets between $280 and $300 come into play in the mid-term outlook.
Solana’s structure is now solidly supported by fundamentals, technicals, and liquidity. As the rising triangle constricts, a proven breakout would set off the subsequent significant leg higher. With improving on-chain activity and strong whale signals, Solana’s next big move appears closer than ever.
