Solana is showing renewed strength as it approaches a key resistance zone that could shape its next major move. A breakout may signal a shift in market structure, while rejection could lead to further downside. Meanwhile, growing tokenized commodities activity highlights Solana’s expanding role in onchain markets.
As of now, according to CoinMarketCap data, Solana is trading at $120.68, with an increase of 6.68% over the past 24 hours and an increase of 14.18% over the past week.
SOL Price Eyes $149 Breakout as Market Structure Turns
Solana is approaching a critical higher-timeframe resistance zone between $138 and $149, where a previously identified bearish order block remains active, according to crypto analyst Crypto Patel. The area could determine whether SOL extends its recovery or faces another rejection from the broader downtrend structure.
The broader market structure still shows a lower high, although SOL has strengthened considerably after recovering from the $60.14 macro swing low. From a Smart Money Concepts (SMC) perspective, the $148.73 level has become a key structural point, with a break above it potentially signaling a Change of Character (CHoCH).
A confirmed higher-timeframe close above $150 could strengthen the bullish scenario by breaking the existing lower-high structure. If that move holds, the analyst identifies $250, $500, and the $700–$1,000 region as potential expansion zones to watch as SOL develops a new market structure.
However, rejection from the $138–$149 supply area could keep the broader bearish structure intact. In that case, SOL could revisit the $95.78 and $74.15 levels, while a deeper decline could bring the $60.14 macro low back into focus. The reaction around the current resistance zone remains key.
Solana Leads Tokenized Commodities Market With 45% Share
The data from SolanaFloor further shows that Solana has taken the top spot in tokenized commodities spot DEX volume, reaching a 45% market share. The blockchain has now moved ahead of Robinhood as activity in tokenized commodity markets continues to grow.
Solana’s rise has been particularly sharp over the past three weeks. During that period, the blockchain held only a 1% share of the market. The latest jump highlights how quickly trading activity has shifted toward Solana-based markets
The increase points to stronger participation in tokenized commodities trading across Solana’s ecosystem. Tokenized assets allow traditional commodities to be represented on blockchain networks, giving users access to onchain markets and decentralized trading platforms.
Solana’s growing share also reflects its expanding role in the tokenized real-world asset sector. If this activity remains elevated, the blockchain could continue attracting more trading volume as tokenized commodities gain greater traction across crypto markets.
