The Solana (SOL) token surged 7% over a 24-hour period, extending its weekly gains to 32% following a break above the critical two-month resistance zone between $78 and $79. The move marked the asset's clearest structural recovery since June.
After climbing past $79, SOL advanced to $103.50 before facing a rejection from sellers that pushed the price down toward $87. Buyers successfully defended the breakout area, establishing a base between $92 and $97 as selling momentum faded. Buyers subsequently regained control, pushing the price back above $100 and testing the $103.50 ceiling once again.
At press time, SOL traded at $101.98, sitting just below the $103.16 to $103.50 resistance zone. Analysts note that a four-hour candle close above $103.50 could clear the way for tests of subsequent technical levels at $106.80, $110.88, $112.70, and the psychological barrier at $115. Conversely, a drop below the $99.52 early warning level and a loss of midpoint support at $95.44 could invalidate short-term momentum and reintroduce focus to lower support areas.
Alongside the price movement, Bitwise’s Solana Staking ETF (BSOL) recorded a record single-day trading volume of $108.65 million. The figure outpaced previous daily highs, which typically ranged from $15 million to $40 million, bringing the four-day trading volume to $261 million. While the metrics indicate heightened investor share exchange activity and stronger ETF liquidity, observers note that netflow data is required to determine whether the activity was driven by fresh capital inflows or direct SOL purchases.
