Layer Network

SOL ETF

Solana

<h3 id="h-key-insights" class="wp-block-heading"><strong>Key Insights:</strong></h3>
<ul>
 <li>Solana’s price remains below recent highs as the network processed 14.2 billion transactions in Q3.</li>
 <li>Solana network activity jumped 45% from Q2, marking a quarterly record.</li>
 <li>ETF inflows and rising usage add support to the SOL crypto price narrative.</li>
</ul>
<p>Solana price has become an unusual story this quarter. Network usage is accelerating while SOL remains below its recent highs.</p>
<p>Solana processed a record 14.2 billion non-vote transactions in Q3, up 45% from Q2, according to Blockworks data cited by Solana on Oct. 3. Non-vote transactions exclude validator voting and focus more closely on activity involving users and applications.</p>
<p>The gap between that network record and the token chart is where the story gets interesting. SOL entered October near $119, according to <a href="https://www.coingecko.com/en/coins/solana/historical_data" rel="noopener noreferrer nofollow">CoinGecko historical data</a>. It closed Oct. 1 at $118.38, after reaching a late-September high above $124.</p>
<h2 id="h-solana-price-and-the-network-s-busiest-quarter" class="wp-block-heading"><strong>Solana Price and the Network’s Busiest Quarter</strong></h2>
<p>The Solana network recorded its highest quarterly total for non-vote activity, according to <a href="https://x.com/solana/status/2106244521831109112?s=20" rel="noopener noreferrer nofollow">Blockworks figures</a>. That number includes user-driven actions such as transfers, swaps, and decentralized application activity.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img width="1024" height="527" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/10/68d950af30b665cbeeaa767634709325215c83d47ca5a404e288ed7f092ac9a7-1-1024x527.png" alt="Solana Network Activity Peak | Source: Blockworks Research">
  <figcaption>
   Solana Network Activity Peak | Source: Blockworks Research
  </figcaption>
 </figure>
</div>
<p>It excludes validator vote traffic, which can make raw blockchain transaction figures harder to compare.</p>
<p>For the Solana price, however, there is no automatic link between more transactions and a higher token valuation. The Q3 record shows activity. It does not establish that the activity caused SOL to rise.</p>
<p>Still, the timing stands out. SOL fell to a Sept. 16 close of $98.54 before climbing back above $120 later in the month.</p>
<h2 id="h-sol-crypto-price-meets-crowded-resistance-zone" class="wp-block-heading"><strong>SOL Crypto Price Meets Crowded Resistance Zone</strong></h2>
<p>The immediate Solana price question is what happens around the $120-$125 range. SOL crypto price traded around $119 on Sept. 29 after retreating from $125. The Coin Republic reported that $120 and $125 were the main levels traders were watching.</p>
<p>Ali Charts also pointed to $150 as a higher target after tracking U.S. spot Solana ETF accumulation.</p>
<p>More Crypto Online offered a more cautious technical view on Oct. 1. The analyst said SOL was showing signs of moving toward an $87.8-$103.7 support zone, while another short-term high remained possible.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img width="680" height="359" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/10/5fabcb7c63ed98b032d3ccfe55f30cec8189c258aef75678212426cc16169fba-1.png" alt="Solana Price Analysis | Source: More Crypto Online">
  <figcaption>
   Solana Price Analysis | Source: More Crypto Online
  </figcaption>
 </figure>
</div>
<p>That creates a wider map for the SOL crypto price. A move above $125 would clear the recent September peak.</p>
<p>A decline puts the $115-$188 area back into focus, followed by $111, per the chart analysis cited by The Coin Republic. The levels are technical markers, not guarantees.</p>
<h2 id="h-etf-demand-adds-another-layer" class="wp-block-heading"><strong>ETF Demand Adds Another Layer</strong></h2>
<p>Network activity is not the only number drawing attention. Ali Charts reported that U.S. spot Solana ETFs accumulated roughly 4.37 million SOL from July 13 through Sept. 25.</p>
<p>The Coin Republic said completed-week ETF inflows reached $188.1 million over Sept. 21-25. The same report placed SOL near $119 on Sept. 29, after the token retreated from its $125 area.</p>
<p>That ETF demand adds another variable to track for Solana’s price. ETF buying does not mean SOL must rise. It provides a separate measure of market demand beyond on-chain usage.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img width="594" height="227" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/10/ad5c6a704ef30a10438585abd766c90f0cbe495f461e960937cd465fed45625c-1.png" alt="SOL ETF Flows | Source: X">
  <figcaption>
   SOL ETF Flows | Source: X
  </figcaption>
 </figure>
</div>
<p>Ted Pillows also <a href="https://x.com/TedPillows/status/2106301379455119431?s=20" rel="noopener noreferrer nofollow">highlighted</a> a $9 million SOL whale purchase during the week. His post said, “Smart money is more focused on alts now.”</p>
<h2 id="h-solana-network-activity-meets-a-technical-test" class="wp-block-heading">Solana Network Activity Meets a Technical Test</h2>
<p>The Solana network is entering the fourth quarter with a record activity figure behind it. SOL, however, still has to navigate the resistance and support levels traders have been marking.</p>
<p>More Crypto Online’s latest chart identifies $132.93 and $160.42 as the next resistance levels. The analyst sees $103.71 as an important line for the current structure. The same analysis puts deeper support at $94.62 and $87.87.</p>
<p>That leaves the Solana price caught between strong network data and a chart that has not yet broken decisively higher.</p>
<p>For the SOL crypto price, the next few moves will show whether record on-chain activity is accompanied by stronger price momentum. The <a href="https://www.thecoinrepublic.com/2026/09/26/solana-price-prediction-sol-crypto-hits-multi-month-highs-as-stablecoin-market-cap-sets-new-record/" rel="noopener noreferrer nofollow">Solana network</a> is busier than ever. The token chart still has something to prove.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2026/10/04/solana-price-what-the-charts-arent-telling-you/" rel="noopener noreferrer nofollow">Solana Price: What the Charts aren’t Telling You</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Solana Price: What the Charts aren’t Telling You

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Thecoinrepublic.com

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