Solana Targets $1,000 Amid Sluggish Network Activity

While bitcoin and Ethereum take center stage, Solana (SOL) quietly establishes itself as the new asset to watch. Driven by strong technical signals and record interest in derivative markets, the crypto is now assigned a target of 1,000 dollars. However, behind this bullish momentum lies a paradox: real activity on the network is collapsing. Between speculative frenzy and on-chain exhaustion, Solana intrigues as much as it questions.

Technical figures with strong bullish potential

The recent surge in the Solana price is no coincidence. Indeed, the weekly SOL chart displays a particularly marked bullish megaphone formation, often a precursor to parabolic moves.

This setup could theoretically project the price up to $1,057, an increase of nearly 400% compared to current levels. Another key pattern observed by analysts is the “cup-and-handle”, already validated with a breakout above the $160 line, reinforcing the hypothesis of a continued rally.

Trader Gally Sama summarized the situation on social network X: “Target remains $1000 for $SOL once we breakout of this range”, referring to a bullish setup over several months whose scope could extend well beyond summer.

Solana's weekly chart shows a multi-months base followed by a multi-months sideways

This setup usually leads to strong moves

Target remains $1000 for $SOL once we breakout of this range

Pullbacks are opportunities 🎯 https://t.co/wJ5B8jv4fn pic.twitter.com/jFfUc7jdG4

— Gally Sama (@hdcharting) September 2, 2025

Specifically, several technical indicators support this bullish thesis:

• The RSI (Relative Strength Index) has risen from 49 to 61 since early August, signaling a renewed buying momentum;

• The $160 threshold, corresponding to the breakout of the “cup-and-handle” pattern, has been crossed, validating the setup;

• The $210 to $250 zone constitutes the next major resistance to break through to confirm the move;

• A breakout above $330, the upper limit of the megaphone, could open the way to a price discovery scenario;

• Projected technical targets range between $1,030 and $1,057, based on patterns and Fibonacci retracements.

These technical elements, though powerful on paper, still require market confirmation. The crypto price will have to break the mentioned levels with conviction and volume for the four-figure bullish scenario to gain credibility.

Speculative enthusiasm out of sync with network activity

Although the technical context seems aligned in favor of a large-scale bullish rally, Solana’s network fundamentals provide a much more nuanced diagnosis. The open interest on SOL futures reaches $13.68 billion.

They testify to massive crypto investor enthusiasm in derivative markets. This figure reflects strong speculation, potentially fueled by anticipation of institutional investment products such as ETFs, but also by the recent Alpenglow update, approved at 98.27%.

The latter has significantly improved network performance, reducing transaction finality from 12.8 seconds to 150 milliseconds, and increasing theoretical throughput to 107,540 transactions per second (TPS).

However, behind these impressive data, real activity on the network shows worrying signs of slowdown. Over the last 30 days, the total number of transactions on Solana has dropped by 99%, while the number of active addresses has declined by 22%.

At the decentralized finance (DeFi) level, the observation is similar. Weekly volumes on Solana’s DEXs have fallen by 65%, or 10.67 billion dollars. By comparison, Ethereum transactions grew by 39% over the same period. This imbalance between price increase and on-chain activity decline could call into question the sustainability of the current move.

Even if the asset remains subdued, this accumulation of advances reveals potential for network redeployment, beyond speculative cycles. If fundamentals sustainably align with price expectations, Solana could reach new heights but will redefine its strategic positioning in the crypto ecosystem.