Solana (SOL) has shown a significant recovery, rising over 36% from a low of $155 to an intraday high of $210. Analysts believe if SOL can break the resistance levels between $210 and $250, it may target $1,000. A bullish megaphone pattern on the weekly chart suggests a potential for a parabolic rise, with a measured target of $1,057 if the upper trend line is breached. Additionally, Solana's open interest in futures markets has reached an all-time high of $13.68 billion, indicating strong speculative interest. This demand could enhance the likelihood of upward price movements, especially as the Alpenglow upgrade improves transaction speed and throughput. Despite these positive indicators, on-chain activity has declined, with transaction counts dropping significantly. This reduced activity poses potential challenges for SOL's price recovery, contrasting with Ethereum's increase in network usage over the same period. Overall, if SOL breaks key resistance levels, a rally to $1,000 remains possible amidst fluctuating on-chain metrics.

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