Solana's distributed real-world asset (RWA) value climbed to approximately $4.23 billion after recording a net increase of $348 million over a 30-day period. Published data from the RWA Foundation on September 5, utilizing figures from RWA.xyz, showed an 11.13% rise in Solana's distributed RWA total, placing the network ahead of other major chains.
By comparison, Ethereum's distributed RWA value grew by 0.77% over the same timeframe, while Stellar gained 5.22%. Conversely, the XRP Ledger fell 5.51% and Avalanche declined 14.06%. The reported figures reflect net changes in assets distributed on the network after inflows and outflows, which include tokenized government bonds, private credit, investment funds, and equities.
SOL Price Action and Support Levels
Amid the RWA growth, SOL traded near $103 as market participants monitored support levels above $98 to sustain the recent recovery. Immediate Fibonacci support was identified in a tight cluster from $99.14 to $102.50.
Market analysts noted that Solana's price structure reflects a corrective Elliott Wave consolidation following a rejection near $110. Analysts suggest the asset is moving in overlapping three-wave structures, potentially setting up a B-wave rebound before a C-wave decline completes the broader correction.
Key Resistance and Invalidation Points
A deeper support zone is established between $90.46 and $94.83. Traders monitoring the setup noted that a clean break below $90 would invalidate bullish expectations, while defending the $98.39 previous quarter's high keeps the breakout structure from the $70 area intact.
On the upside, $110 remains the immediate major resistance level. Reaching higher supply zones between $146 and $152 will require SOL to maintain support above $98 and push past the $110 threshold.
