Solana is currently trading at $140 on the 1D chart, and it is showing signs of a potential price surge. The cryptocurrency is seeing a surge in activity from large investors, an increase in growth of the network and staking participation now. According to technical analysis, Solana is one step away from a massive Solana rally. In order for this rally to really get the spark going, it must clear a key resistance level first.

Increase in Large Investor Activity

Solana has recently seen a significant increase in activity from so-called ‘whales’, or large investors. The amount of wallet addresses that are popularly known as whale addresses holding 10,000 SOL worth or more has increased from 4,943 to 5,019. This increase is an indicator of increasing faith in Solana’s promise and an indication that the big investors are confident enough to start scooping up the asset.

SOL seems to have hit a bottom, suggesting that the fourth wave of correction is over. A positive sentiment is creeping back in as the cryptocurrency is bouncing back quickly with full strength, showing fresh buying pressure and buyers’ accumulation.

The staked value of Solana has skyrocketed to $58 billion, up from just $7.5 billion. This growth demonstrates Solana’s growing influence within the staking ecosystem and the appeal of its staking rewards. The staking ratio has increased, propelling Solana to new heights. With the continued increase in users, this improvement reduces the amount of IMP circulating supply making it potentially more in demand.

Network Expansion and On-Chain Activity

Solana’s network continues to grow at an incredible rate of 5 million new addresses per day. This textual growth serves as a promising proxy for adoption and usage of the Solana blockchain. The increase in new addresses is indicative of the interest in Solana’s ecosystem and their focus on a unique growing ecosystem with a myriad of applications.

As a result, Solana has seen a significant uptick in on-chain activity, which only serves to prove the network’s burgeoning utility. This increased activity reflects a boom in user engagement with Solana’s decentralized applications (dApps). As a result, more people than ever are unlocking its potential for creative use.

Technical Analysis and Price Targets

From a technical analysis standpoint, Solana’s asset is capable of producing the positive momentum that would trigger such a price surge. This rally in time could see new all-time highs in the mid-term. Shot through Solana’s price chart, the Expanding Triangle formation doesn’t just look cool.

If Solana moves and stays strongly above the upper side of the pattern, it will be an upside breakout. This would set off the expected rally, reaching well above $300. Now, Solana finds itself at a very important crossroads. Where it goes from here depends on if the buyers or sellers are able to take control of the trend and the market.

There’s still hope from Solana captain Faibik for a Solana emergency rally. He is optimistic it will go up to the top line of the triangle shape, even crossing the $300 barrier in the next months. Of all targets, this one has the most potential for Solana. If it’s able to maintain this level of momentum and push past resistances, the potential upside is huge.