Solana Crypto Net Buying Increases Sharply As Bulls Target $87

Key Insights

• Net buying of long positions in Solana crypto increased rapidly over the past 24 hours.
• SOL price rose after liquidating high-leverage long positions. The current maximum liquidation price level is $87.
• In Q1 alone, Solana processed 10.1 billion transactions, as active addresses, stablecoins, DEX volume, app revenue, and RWA on the chain grew exponentially.

Solana (SOL) is one of the widely used blockchains after Bitcoin (BTC) and Ethereum (ETH), following its high speeds and low transaction fees. Bulls have been accumulating crypto over the past few days, even though the altcoin’s price action has remained in the same range for the past two months.

Meanwhile, the chain’s activities are surging to the upside, aligning with the bullish prediction from retail and big players in the market. With that in mind, can this aggressive buying push the price of Solana Crypto past $87, which is the maximum liquidation level?

Why is Solana Net Buying Increasing Rapidly?

Overlaying the Open Interest (OI) and Net Positions metrics on the price of Solana crypto depicted a clear picture of what was unfolding. SOL price action was making higher highs and lows on the hourly timeframe, suggesting an uptrend. But what drove this trend?

The Net Positions, which encompass both net longs and net shorts, were displaying a decisive bullish candle. The delta jumped above the neutral line, indicating bulls had outdone bears. This metric rose from a low of -1 million to 0 in only 2 hours. This suggested aggressive buying.

Meanwhile, the OI remained in a downtrend but was forming a bottom around $8.8 million. The contrast in OI and price movement was a divergence, which can signal a reversal or continuation of the existing trend.

Right now, SOL price is stabilizing around $84 with $87 in sight. Still, this target was in the two-month range that kept Solana crypto between $78 and $90. That did not guarantee a breakout past the $90 high of the sideways movement.

Analyzing SOL Price Liquidation Heatmap

Further analysis revealed that the liquidation of orders just below $78 fueled the short rally in Solana. These leveraged positions, as seen on CoinGlass’s liquidation heatmap, pushed SOL’s price to $87 but did not tap into the liquidity there.

Currently, more liquidation leverage is below $78, suggesting SOL prices could drop to that level. These long positions were located between $78 and $82, with prices at around $84. That suggested SOL price was more likely to drop to $82 than be charged at $87.

Meanwhile, if $82 holds and is not tapped like $87, the altcoin could bounce back to the range’s highs. Such a move, especially if it triggered the orders around $87 would result in a short squeeze amplifying the gains. But according to the heatmap, more SOL orders were sitting below the current price than above it.

How Does Solana’s Network Activity in Q1 2026 Position

On the network activity front, the first quarter (Q1) of 2026 saw the number of transactions processed by the Solana crypto network surpass 10.1 billion. For daily active addresses, they increased from 400K to 4 million, a tenfold growth. These two metrics indicated an active network even at a time the markets were bearish.

Additionally, over the last two years, stablecoins on the Solana blockchain have grown from $3 billion to $15.2 billion. This represented a multiple of 4 during the aforementioned period.

Moreover, the DEX volume jumped from $183 billion to $2.5 trillion while App Revenue surged from $190 million to $4.6 billion. The capital deployed to tokenize real-world assets (RWAs) on Solana increased from zero to $1.5 billion.

Altogether, the signals pointed to a potential uptrend in Solana crypto that could push it past $87. However, there were orders falling below $82, which could be a hurdle to such a price breakout.

The post Solana Crypto Net Buying Increases Sharply As Bulls Target $87 appeared first on The Market Periodical.