Solana surpasses 400,000 RWA holders, SOL nears key $109 resistance

Growth in RWA Adoption on Solana

Everstake, a leading blockchain infrastructure company that tracks staking and network analytics, reported that Solana’s RWA user base has expanded quickly in less than two years. The continuous growth indicates that participation in tokenized real-world assets on the platform is no longer limited to a small group of early adopters, but has become more widely accessible to retail and institutional participants alike.

This development enhances Solana’s position in the growing sector of asset tokenization, where traditional financial assets, real estate, and other tangible assets are converted into blockchain-based tokens. With increasing on-chain activity, networks able to process high transaction volumes—such as Solana—are expected to play a pivotal role in driving further adoption within the sector.

While RWA adoption accelerates, Solana’s native token, SOL, faces a period of technical uncertainty as markets assess its next price move.

SOL Price Holds Key Support, Faces Resistance

The SOL token is currently trading at approximately $102.01, reflecting a 1.44% decline over the past 24 hours. Despite the recent drop, SOL maintains broader gains, rising about 33% over the prior 30 days and 1.45% in the past week. The token trades within a 24-hour range between $102.28 and $105.20, with $100 considered a crucial psychological threshold for short-term price action.

A break above $105 could open the path to higher resistance zones, though increased selling pressure between $100 and $102 may test the resilience of Solana’s recent rally. Analysts view price moves above $109 as especially significant, with sustained momentum above this mark indicating a potential push toward previous highs.

Technical Outlook: Support and Resistance Levels

Technical analysis shows that SOL has been moving sideways after a steady rally from $76 to $109. The price remains above the 20-day Bollinger Band midline at $101.87, which acts as the first major support. Staying above this level could help maintain a bullish bias in the near term.

According to the indicators, the upper Bollinger Band at $109.03 sets the resistance zone, with the $109-$110 range seen as a potential barrier. Failing to clear this range could keep SOL in consolidation, while continued rejection below $101.87 could send the price toward the lower Bollinger Band at $94.70. Momentum readings are cautious, with the MACD line at 4.74 versus a signal line at 5.70 and a histogram of -0.96, signaling reduced buying pressure following the latest rally.

Crypto analyst Ash Crypto points to several long-term signals: SOL formed its first green monthly candle in 10 months, and the monthly MACD suggests a possible bullish crossover. Additionally, the monthly RSI has broken a two-year bearish trend, implying improving sentiment for the remainder of the year.

Solana’s combination of expanding RWA adoption and strengthening technical indicators makes the network stand out, with 400,000+ RWA holders reflecting notable growth while traders focus on key resistance near $109–$110.

Sustained trading above $101–$102 is considered vital. If SOL manages to surpass $109, targets between $112 and $116 may re-enter focus. Alternatively, a drop below $101 could lead to a test of support near $94–$95. The coming days are expected to determine whether Solana’s price action shifts towards a new rally or enters a consolidation phase.

Mini dictionary: Everstake, a blockchain infrastructure provider and validator node operator, provides staking services and analytics to help track on-chain trends across multiple proof-of-stake networks.