Solana traded near $103.25 after gaining 1.3% in 24 hours, with technical analysis pointing to resistance between $110 and $113. The network has established a support band between $90.50 and $100.48 that buyers continue to defend.
SOL recorded approximately $2.15 billion in daily trading volume and holds a $60.45 billion market value. The three-day chart shows a breakout from a consolidation pattern, with the first upside objective standing near $113. A decisive move above this level could direct attention toward $132.93, with additional resistance appearing at $160.42.
Fundamental metrics underpin the technical setup. Solana processed about five billion transactions during August, exceeding 100,000 transactions per minute while maintaining fees below competing networks. Applications on the blockchain generated $42.28 million in weekly revenue, indicating sustained user demand beyond token trading.
Derivatives markets present mixed signals. Trading volume fell 42.33% to $4.44 billion, while open interest increased 2.86% to $6.38 billion. The combination suggests traders maintained positions despite lower short-term participation.
Key support levels include $100.48, $94.83, and $90.50. A sustained loss of $90.50 would weaken the current bullish structure and increase the risk of a deeper reset. Momentum indicators show the Relative Strength Index has eased to 65 after previously entering overbought territory, suggesting momentum has moderated without reversing.
