Solana is defending the $74-$75 support zone as selling from meme-coin activity collides with steady demand from tokenized real-world assets.
Back
Solana holds $74 support as Pump.fun sell pressure meets RWA demand
Solana is defending the $74-$75 support zone as selling from meme-coin activity collides with steady demand from tokenized real-world assets.
Solana traded at $75.12 as of 14:00 UTC, testing the $74-$75 support zone where competing on-chain flows are colliding.
Pump.fun, the meme-coin launchpad on Solana, has generated persistent selling pressure as newly created tokens distribute to holders who often exit quickly, according to Solscan data. The platform's activity contributed to a drop in SOL from above $80 earlier this week.
The selling has been partially absorbed by demand from stablecoin integrations and tokenized real-world assets. Total tokenized assets on Solana reached $3.3 billion, up $1.1 billion since May 9, with the platform commanding about 97% of on-chain tokenized equity trading, per DefiLlama. The forthcoming Open USD stablecoin, backed by more than 140 financial institutions including BlackRock, is scheduled for native deployment on Solana before year-end.
A break below $74 would expose the $67-$68 range, where the lower Bollinger Band sits, and potentially the $60 area that marked June's bottom. Holding the level would reinforce confidence in Solana's adoption narrative, which has seen weekly active wallets surge to 29.7 million from 16.8 million in two weeks.
Network Activity Surges While Price Stalls
The divergence between Solana's on-chain metrics and its token price has widened. The network processed more than 1 billion non-vote transactions during the week ending July 6, while weekly active addresses grew 77% over two weeks. Crypto analyst Ali Charts noted on X that Solana continues to see strong network growth, with an average of 8.4 million new addresses joining each week.
Yet SOL remains about 17% below its $90 level from early June. The token's 14-day Relative Strength Index sits near 50, indicating neutral momentum, while on-balance volume has stayed flat after recovering from June lows — a sign that buying demand did not strengthen enough to support a sustained move above resistance.
What to Watch
The $78-$80 resistance zone remains the immediate upside hurdle. A decisive reclaim above $78.50 would strengthen the technical structure and position $95 as the next major target, according to multiple analysts. On the downside, the $73-$74 band represents the last line of defense before a potential decline toward $67-$68.
Solana's ETF flows have turned negative this week, with $700,000 in net outflows after three consecutive weeks of positive inflows totaling nearly $3 million since the month started, per data from The Block.
This article is for informational purposes only and does not constitute investment advice.
[1] Solana Holds $74 Support as Pump.fun Sell Pressure Meets RWA Demand[2] Solana Price Forecast: Early Rejection of $78 Increases Odds of a Pullback[3] Solana (SOL) Price Eyes $100 Target Following Strong 30% Recovery Rally[4] Is Solana's price at risk of a crash?[5] Solana (SOL) Network Activity Surges While Price Remains Stagnant Below $80
