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- SOL has gained 32% in a week after breaking the $78–$79 resistance zone.
- A four-hour close above $103.50 could open the path toward $106.80, $110.88, $112.70 and potentially $115.
- BSOL recorded a record $108.65 million in daily volume, highlighting stronger trading activity around Solana’s ETF market.
Solana (SOL) is showing its strongest technical recovery in months after breaking above the $78–$79 resistance zone that had capped the token for roughly two months. SOL has gained 32% over the past week and was trading near $101.98 as buyers attempt to turn the recent breakout into a sustained move toward $115.
SOL Holds Above Key Breakout Zone
The latest rally accelerated after SOL cleared $79, pushing the token first toward $88 before reaching $103.50. Sellers rejected that level, triggering a pullback toward $87.
However, the retracement did not return SOL to its former breakout point. Instead, buyers established support between $92 and $97, suggesting that selling pressure weakened after the initial rejection.
SOL later reclaimed $100 and reached $101.12, bringing the $103.50 resistance area back into focus. A four-hour close above $103.50 would strengthen the bullish setup and could open the way toward $106.80, followed by $110.88 and $112.70. The next major psychological target would be $115.
BSOL Volume Reaches Record High
Trading activity around Bitwise’s Solana Staking ETF (BSOL) has also increased sharply as SOL approached resistance.
BSOL recorded $108.65 million in daily trading volume, its highest single-day figure since launch. That compares with previous daily peaks of roughly $60 million to $80 million and a more typical range of $15 million to $40 million.
Over four days, trading volume reached $261 million, averaging approximately $65 million per session. The figures point to significantly stronger liquidity and investor activity around the Solana ETF.
Still, volume alone does not prove that fresh capital entered the fund or directly supported SOL’s rally. Net-flow data remains important for determining whether the increased activity represents sustained new demand.
$103.50 Becomes the Critical Level
SOL‘s next major test is the $103.16–$103.50 resistance zone. A decisive four-hour close above $103.50 could confirm another leg higher, while another rejection would put the $92–$97 support range back under scrutiny.
On the downside, $99.52 represents an early warning level. A break below it could expose $95.44 and weaken the short-term bullish structure.
Also Read: Solana Price Eyes $100 After 10% Surge: 3 Signals Traders Are Watching
For now, Solana’s ability to remain above its former breakout zone is central to the recovery. Holding support while clearing $103.50 would strengthen the case for a move toward $115, while a loss of key support could delay that target.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
