Key Highlights
- Solana currently holds at $103 following a recovery from the $98 support zone
- Bulls are eyeing $110 as the critical resistance threshold for breakout potential
- Key support area extends from $90.46 to $94.83 if downside pressure increases
- The network captured $348 million in net RWA inflows during the past 30 days, topping all blockchains
- Solana’s distributed RWA value stands at $4.23 billion across 398,644 holder addresses
The price of Solana is hovering around $103 following a successful bounce from the $98 threshold, which previously served as a resistance barrier. While this rebound maintains short-term bullish momentum, market analysts suggest the movement represents a corrective wave rather than the beginning of a fresh upward trend.
Technical analyst More Crypto Online characterizes the present market behavior as an Elliott Wave 4 correction phase. The formation displays multiple overlapping three-wave movements, typically indicating consolidation instead of clear directional momentum. SOL may potentially rise beyond the September 3 peak during a B-wave rally before a C-wave pullback finalizes the corrective structure.
Multiple Fibonacci retracement support zones are tightly grouped below current trading levels at $102.50, $101.51, $100.53, and $99.14. These markers provide traders with precise reference points for monitoring potential support tests.
Breaking Through $110 Remains Critical
Solana’s immediate challenge lies at the swing zone near $110. This level recently turned back SOL and continues to represent the barrier that bulls must overcome to establish a more convincing case for upward continuation.
Market analyst TraderSZ announced additions to his long SOL positions while marking $90 as the invalidation point for his bullish thesis. He anticipates another upward trend leg provided price maintains support above $98.39, representing the prior quarter’s peak.
Should buyers successfully drive SOL beyond $110 with strong volume confirmation, the subsequent resistance zone emerges considerably higher in the $146ā$152 range.
Analyst Don š (@DonWedge) shared on X that $SOL is targeting $170, expressing optimistic sentiment connected to Solana’s expanding presence in real-world asset tokenization infrastructure.
RWA Sector Dominance Strengthens Solana’s Position
During the most recent 30-day window, Solana captured $348 million in net real-world asset capital inflows, surpassing every other monitored blockchain platform. This influx increased the network’s total distributed RWA value to $4.23 billion.
By comparison, Ethereum registered a modest 0.77% gain during the identical timeframe, while Stellar climbed 5.22%. Meanwhile, the XRP Ledger declined 5.51% and Avalanche experienced a 14.06% decrease.
Tokenized financial products deployed on Solana’s network include BlackRock’s BUIDL fund, Franklin Templeton’s BENJI token, VanEck’s VBILL, along with products from Ondo Finance and WisdomTree. These primarily consist of Treasury securities and money market instruments accessible to qualified institutional participants.
The $4.23 billion figure reflects distributed RWA value across the network, distinct from Solana protocol revenues or assets under Solana Foundation management.
SOL continues trading in the $103 zone with $98 serving as the crucial support threshold that must hold for the bullish structure to remain intact.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
