Solana is trading near $106.50 after gaining approximately 3.1% over the past 24 hours. The price has recovered from a recent pullback and remains close to the $110 resistance level. The rebound precedes Solana's Transaction V1 mainnet launch on September 9, a network upgrade expected to expand transaction capacity.
Over the past seven days, SOL has gained about 2.6%, following a sharp advance from the $75–$80 region in August.
Transaction V1 Upgrade Expands Developer Capacity
The Transaction V1 upgrade raises Solana's maximum serialized transaction size from 1,232 bytes to 4,096 bytes, providing developers approximately 3.3 times more transaction space per transaction. The larger format can support ZK proofs, BLS signatures, large multisig setups, and confidential transfers, allowing some workloads to fit inside a single atomic transaction.
The Solana Foundation has stated that legacy and v0 transaction formats will remain supported. Developers need to adopt V1 only when they require the larger transaction size.
Testnet activation began September 1, giving developers time to test compatibility before the mainnet release. Infrastructure providers including RPC clients, indexers, and data pipelines will need compatible software to read V1 transactions correctly.
Liquidity Clusters Shape Near-Term Price Levels
Technical analysis shows liquidity building above the current market price. The nearest liquidity cluster sits around $115 to $120, while a larger concentration remains near $145 to $150. A continued recovery could bring the price closer to the first cluster, though failure to hold above $100 would weaken the short-term recovery and could return price toward recent breakout levels.
The $145 region has previously acted as resistance, making the zone relevant beyond liquidation data alone.
Wave 4 Structure and Support Levels
Technical analysis indicates Solana remains in a corrective wave 4 consolidation after the rejection near $110. Support between $90.46 and $94.83 remains central to this structure. Holding this support zone would keep a later wave 5 advance possible, while a break below $90.46 would weaken the displayed bullish structure.
