Solana (SOL) Near $77 After 16% Weekly Bounce as Network Activity Nears Yearly Highs

SOL traded near $77 after a 16% weekly bounce, but remained about 74% below its record high of $293. On-chain activity is climbing toward yearly highs, according to BeInCrypto, with active addresses retesting just below 7 million and seven-day average transactions per second trending toward 1,100. Technically, SOL is defending the 0.786 Fibonacci retracement near $73, with resistance around $80 and then $120. BeInCrypto said a daily close above $80 could open a path toward $100 and $120, while a break below $73 could revisit $63; the Alpenglow consensus upgrade in the third quarter is cited as a potential catalyst.