Solana (SOL) is capturing the market’s attention once again, and this time it’s not just because of price action—it’s about performance. The Layer 1 blockchain has quietly outpaced Ethereum in one key metric: network fees. Now, with bullish momentum building and technical patterns aligning in favor of a rally, Solana bulls are setting their sights on a breakout past the $184 resistance zone.
Solana Outperforms Ethereum in Network Fees—Again
Solana has now maintained a consistent lead over Ethereum in total chain fees for seven consecutive weeks, according to DeFiLlama data. As of the latest report, Solana’s chain fees reached an impressive $2.019 billion, significantly higher than Ethereum’s $1.40 billion. That’s no small feat, especially considering Ethereum’s reputation as the long-time heavyweight in the smart contract space.
This isn’t just a symbolic win for Solana—it’s a practical demonstration of growing adoption. Network fees reflect usage, and Solana’s increasingly high activity hints at real-world traction that could sustain long-term growth. Add to that a 50% surge in decentralized application (dApp) volumes on Solana in the past month, according to DappRadar, and it’s clear that users and developers are choosing Solana in greater numbers.
Bulls Aim for $184: Technicals Support the Move
Currently trading at around $177, Solana has seen a 3% intraday gain after bouncing off a daily low of $169. With a market cap hovering around $92 billion and 24-hour trading volume at $3 billion, there’s no shortage of liquidity supporting the move.
The technical setup is also giving bulls reasons to be optimistic. Solana is currently trading within an ascending triangle pattern—a formation that often signals a bullish breakout. The key challenge ahead? Breaking through the $184 resistance level, the upper horizontal line of the triangle.
Momentum indicators support this potential breakout. The Relative Strength Index (RSI) is sitting at 52, suggesting there’s room for further upside before the asset enters overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) just flashed a bullish crossover, which traders often interpret as a buy signal.
Should SOL bulls manage to punch through the $184 barrier, it could trigger a sharp rally toward the $200 level and potentially even higher, depending on the intensity of the follow-through.
Risks to Watch: A Drop Below $170 Could Flip the Script
While the sentiment is mostly bullish, traders should keep an eye on the downside. If Solana fails to sustain its current uptrend and breaks below the lower trendline of the triangle—especially losing support at $170—it would invalidate the bullish setup. That could result in a sharper pullback and potentially dampen enthusiasm in the short term.
Network Growth Fuels Long-Term Optimism
What’s helping Solana stand out is more than just a few green candles on the price chart. It’s the real-world activity: developers deploying apps, users transacting, and fees reflecting all this demand. As Solana continues to outpace Ethereum in fees, and its ecosystem expands in terms of both volume and dApp engagement, the bullish case strengthens.
Investors are starting to factor in the possibility that Solana could eventually reclaim its previous all-time highs—if not set new ones. But none of that happens unless SOL bulls first conquer $184.
Final Thoughts
Solana is riding a wave of technical and fundamental strength. From outperforming Ethereum in fees to attracting massive dApp activity, the blockchain appears to be hitting its stride. If momentum holds and $184 breaks, SOL could be headed toward its next big rally. But the battle at resistance will be key, and the coming days could set the tone for the rest of the quarter.
