Solana Price Analysis: Breaking Through $145 Resistance Amid Network Growth Concerns

Solana has recently surged to a high of $144, positioning itself to challenge the key $145 resistance level, according to insights from Santiment on January 12, 2026. This price movement comes at a critical juncture for $SOL traders, as the cryptocurrency's ability to break past this barrier could signal a stronger bullish trend. However, the rally's sustainability hinges on reviving network growth, which has shown signs of deceleration. Data indicates that new weekly wallets created on the Solana network dropped significantly from 30.2 million in November 2024 to just 7.3 million currently. This decline raises questions about user adoption and could impact long-term price momentum. For traders eyeing entry points, monitoring on-chain metrics like wallet creation rates is essential, as they often correlate with trading volume and market sentiment. Without a rebound in these figures, $SOL might face increased selling pressure, potentially retreating to support levels around $130 or lower.

In the broader cryptocurrency market context, Solana's performance could influence trading opportunities across related assets. For instance, if $SOL successfully breaches $145, it might boost confidence in altcoins, potentially lifting Ethereum ($ETH) and other layer-1 tokens. Traders should watch for correlations with Bitcoin ($BTC), which often sets the tone for the market. Recent market sentiment suggests institutional flows are favoring high-performance networks like Solana due to its speed and low fees, but the dip in new wallets could deter fresh capital. From a technical analysis standpoint, the relative strength index (RSI) for $SOL might be approaching overbought territory if the price pushes higher, advising caution for short-term positions. Support and resistance levels are key here: a breakout above $145 could target $160, while failure might see a pullback to $135, based on historical price action. Incorporating volume data, any increase in trading activity during this attempt would validate the move, offering traders clearer signals for leveraged plays or spot buys.

Trading Strategies and Market Implications for Solana

Developing effective trading strategies for Solana requires a deep dive into its on-chain metrics and market indicators. The stark reduction in new wallet creations—from 30.2 million in November 2024 to 7.3 million as of January 2026—points to a potential slowdown in network expansion, which could undermine the current price surge. Traders might consider using tools like moving averages to gauge momentum; for example, the 50-day moving average could serve as dynamic support if $SOL dips below $140. Additionally, exploring trading pairs such as SOL/USDT or SOL/BTC on major exchanges can provide insights into relative strength. If network growth revives, perhaps driven by upcoming upgrades or ecosystem developments, it could catalyze higher trading volumes and push prices toward previous highs. Market participants should also factor in broader economic indicators, like stock market correlations, where a rally in tech stocks might indirectly support crypto assets like $SOL through increased risk appetite.

Looking at potential risks and opportunities, the $145 resistance level represents a pivotal point for Solana's trajectory. A successful break could open doors to significant gains, with analysts noting possible targets at $150 and beyond, supported by historical patterns from similar breakouts. Conversely, if wallet growth continues to lag, it might lead to bearish divergence, where price rises without fundamental backing, increasing the likelihood of a correction. Traders are advised to set stop-loss orders below key supports to manage downside risk. In terms of market sentiment, positive developments in AI-integrated DeFi projects on Solana could reignite interest, drawing institutional flows and boosting on-chain activity. Overall, this scenario underscores the importance of combining technical analysis with fundamental data for informed trading decisions, ensuring positions align with evolving market dynamics.

To optimize trading outcomes, consider diversifying across correlated assets. For example, a Solana breakout might positively affect tokens like $ETH or even meme coins built on its network, creating arbitrage opportunities. Always track real-time indicators such as trading volume spikes, which in past instances have preceded major moves. With Solana's price at $144 and eyeing $145, the coming days will be crucial—traders should stay vigilant for any uptick in wallet creations, as this could be the catalyst for sustained growth. By focusing on these elements, investors can navigate the volatile crypto landscape with greater confidence, capitalizing on both short-term fluctuations and long-term trends.