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Solana (SOL) hits record online activity in August, pointing to a breakthrough of US$150

2026-09-02 17:14:58
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Core Points

Analytical Outlook: Higher Target

Cryptocurrency analyst Ali Martinez pointed out that the market structure of SOL has turned bullish and set a price target of $150 in September.

As of September 1, SOL was trading at US$101.30, a 40% increase in the past 30 days.

Solana-focused ETFs reached net daily inflows of US$925,000, and total assets under management rose to US$1.44 billion.

The Solana blockchain recorded 5.2 billion non-voting transactions in August, setting a new record and a 23% increase from July.

Technical analysis shows that SOL needs to maintain the US$100 support level and break through the US$120 resistance level to verify the US$150 forecast.

Market performance and sentiment

Solana (SOL) continues to trade in the $101 range after a remarkable monthly gain. On September 1, SOL fell 1.76% in 24 hours to close at $101.30. Looking at it more broadly, however, the asset has risen 5% in the past seven days and has surged a staggering 40% in the past month.

The entire cryptocurrency sector fell slightly, with the total market value decreasing 0.65% to US$2.62 trillion. Bitcoin remains below $78000, Ethereum is trading at close to $2430, and XRP remains around $1.36.

Market sentiment indicators showed that the Fear and Greed Index fell from 80 to 74, indicating a decline in investor optimism after the market rose 21.38% month-on-month.

Analyst Outlook: Bullish Signal

In a recent post posted by Platform X, cryptocurrency analyst Ali Martinez urged traders to abandon their negative views of Solana. Martinez said the technical pattern was turning to a bullish structure, advising investors to open positions before the expected major market. His analysis points to $150 as SOL's next key price target.

Martinez said: "Stop being pessimistic about Solana (SOL). The market structure is turning bullish and I think it's time to lock in positions before the next big round."

From a technical perspective, to achieve the $150 goal, SOL needs to first break the $110 threshold and then overcome the $120 resistance level. After successfully breaking through $120, it may open the way to the medium-term goal of $130 and move towards $150. If SOL fails to hold the $100 mark, the next key support level is at $95.

Technical kinetic energy indicators show neutral mixed signals. The Relative Strength Index (RSI) was 40.56, above the oversold reading. The MACD indicator value is-0.18, while the histogram reading is-0.46, indicating that sideways consolidation may be entered in the short term.

Capital Inflows and Network Performance

On August 31, Solana ETF's total investment inflows were US$925,010, and all funds went to Fidelity's FSOL products. The total asset management scale of Solana ETF products has climbed to US$1.44 billion, accounting for 2.37% of SOL's total market value. Since their establishment, these seven tradable products have generated a cumulative transaction volume of US$67.55 million.

From a network performance perspective, according to relevant data, Solana successfully processed more than 5.2 billion non-voting transactions in August 2026. The number set an unprecedented monthly record and was a 23% increase from the previous benchmark of 4.24 billion in July.

The non-voting trading indicator measures real user participation and application activity and excludes routine verification node maintenance operations. August's data is more than double Solana's standard monthly trading volume 18 months ago.

During August, the total supply of stablecoins running on Solana reached US$14.7 billion, nearly three times the level of US$5 billion a year ago.

This achievement follows Solana's first verification node governance vote, when two of three proposals were approved, including an initiative to double the emission reduction rate of new SOL tokens annually.

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