Solana is beginning to show two notable developments that are fueling bullish momentum. Its price has not only shown strength during periods of broader weakness; network activities have also started to improve considerably.
Solana Could Close Its First Positive Month in Nine Months
An analysis from Ansem suggests that Solana could see its first green candle in 9 months. Notably, the last time the asset recorded a green candle was in September 2025, when it increased by 4%.
Ansem’s shared monthly chart shows SOL sharply rebounding from the intra-month lows near $60 despite broader crypto market weakness.
His analysis hinges on a simple thesis: Solana has defended a key monthly support aggressively. Earlier in the month, the prominent altcoin tested the February lows of $67, but bulls couldn’t defend the zone.
Consequently, it lost this support, crashing to $60. However, the bearish trend seems to be losing momentum. Solana has rebounded sharply from this low to not only reclaim the monthly support but also climb above levels above $70.
Today alone, SOL is up 2.3% to $73.7 while Bitcoin and other major large-cap assets fell. Ansem sees this momentum continuing, potentially leading Solana to its first monthly closing in nine months.
Meanwhile, this would be a very notable turnaround, seeing that the asset is still down 10% this month and has just one day to pull off this feat. For Solana to post a green monthly candle, it needs to move above its monthly opening of $82.45 and close higher.
Network Usage Climbs to New ATH
While price has shown some positivity, Solana’s network activity adds another layer of optimism.
According to Blockworks data, shared by Matthew Osofisan, weekly transaction activity excluding validator vote transactions has reached a new all-time high. The metric reached 962.4 million in the past week, surpassing its earlier record of 959 million in early February.
The chart shows that network activity has steadily increased since 2023. Although temporary pullbacks occurred along the way, each recovery established a higher base than the previous one.
Throughout 2024, 2025, and now 2026, transaction volumes continued expanding until reaching fresh record levels. Interestingly, this divergence between price performance and blockchain activity has become increasingly significant.
Historically, stronger network usage has often reflected higher participation from decentralized applications, users, developers, and automated protocols. While transaction counts alone cannot determine future price direction, they provide insight into the health and utilization of the ecosystem itself.
The latest figures suggest that demand for using the Solana network has continued increasing even as market sentiment surrounding the token has remained cautious.
This divergence does not necessarily mean the price of Solana will immediately follow the higher network usage. Markets frequently experience periods where fundamentals and price move independently before eventually aligning again. However, it boosts the confidence of a strong price rebound when broader market conditions improve.
Josiah Oluwadare
Forune Omiete
