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Points of Focus
- SOL traded at $72.50, down 5.1% over seven days and below its 50-day EMA.
- Active trading wallets reached 609,000 in July, a seven-month high.
- Weak momentum leaves $71.30 as SOL’s next support test.
Solana traded at $72.50 on Monday, extending its seven-day decline to 5.1% as active trading wallets climbed to a seven-month high. The higher wallet count shows more addresses trading across Solana-based markets, but the activity has yet to translate into a sustained price recovery. CoinGecko valued SOL at about $42.1 billion.
Solana active trading wallets rise as SOL demand stays mixed
SolanaFloor reported that 609,000 unique wallets executed trades during July, the highest monthly total in seven months. The rise came while SOL remained below $75, showing that higher address activity had not yet lifted the token above nearby resistance.
📈Report: @Solana’s active trading wallets rose to a seven month high in July, with 609,000 unique wallets executing trades during the month. pic.twitter.com/sCaELAyuOQ
— SolanaFloor (@SolanaFloor) August 2, 2026
Active wallet counts do not equal verified users because one trader or bot may control multiple addresses. A July 30, 2026 study by researchers from Zhejiang University, Nanyang Technological University and Monash University linked 200 Solana bot addresses to more than 44 million transactions and cited bot-driven DEX volume above $250 million per day in January 2026. The study shows why July’s wallet count should not be treated as a direct measure of new retail users.
Solana also activated SIMD-0286 on July 29, raising the block compute limit from 60 million to 100 million units, a 66% increase. The added capacity gives applications more room during demand spikes, but the upgrade does not create demand for SOL by itself.
Solana price faces $71.30 support below key resistance
At $72.60, SOL traded below its 10-day EMA at $72.80, 20-day EMA at $72.91 and 50-day EMA at $73.06. The 100-day and 200-day EMAs stood at $73.28 and $73.84, placing several resistance levels close to the market price.
The four-hour RSI near 45 and daily RSI near 43 showed weak momentum without reaching oversold territory. On the daily chart, the Moving Average Convergence Divergence (MACD) line at -0.89 remained below its -0.53 signal line, while the histogram stayed negative at -0.36. Both readings kept the short-term setup bearish.
CoinGlass showed about $4 billion in 24-hour futures volume, compared with $188.1 million in spot volume, while open interest stood near $4.49 billion. The figures show derivatives activity far exceeded spot trading, making leverage a key factor in short-term price action despite the rise in active wallets.
A daily close below $71.30 would expose the $66.81 Fibonacci level. On the upside, SOL first needs to reclaim the 50-day EMA near $73.06, followed by the $75.68 to $76.06 resistance zone. At $72.50, the token remained 1.7% above its nearest support.
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