Solana's 7% Pullback Isn't Slowing Demand: Here's the $150 Setup

Solana was trading near $102 on Tuesday, down more than 7% from its recent seven-month high of nearly $110, but demand signals are still strengthening. Analyst Ali Martinez cited an average of 9.5 million new addresses per day over the past week, calling it a key adoption indicator that has often preceded major rallies. Large holders are also adding exposure: wallets holding at least 10,000 SOL rose 1.58% after adding 52 “whale” wallets. US spot Solana ETFs extended weekly net inflows to nine weeks, drawing nearly $154 million last week. Meanwhile, SOL held on exchanges fell 4.91% after roughly 2.6 million tokens were withdrawn. Martinez flagged $103 as key support, backed by 39 million SOL, with next levels at $123 and $132—linked to about 20 million SOL purchases—potentially setting up a path toward $150. The article also notes network developments including a first binding on-chain governance vote and a 25% jump in speed, with slot times improving from 400ms to 300ms, plus Schwab plans to add SOL to Schwab Crypto Direct. Additional metrics include more than 350,000 RWA holders and record $50 million in tokenized commodities supply.