Solana (SOL) breaks through a two-year downward trend, with whales increasing their holdings and RWA

Key highlights

SOL stabilized around $103 after a strong rebound from a low of $60.

The ten-month downtrend ended with its first monthly closing gain, sending a potential reversal signal

The monthly MACD is close to a bullish crossing. RSI breaks through the two-year downtrend resistance

The main upside targets are at US$120.23 and US$146.56, with support anchored at US$97.70.

In the past year, The network processed US$14.7 billion in tokenization transactions in real assets

Key price barriers ahead

SOL is currently trading at approximately US$103.47, down slightly 0.18% in the past day. The digital asset has made an impressive recovery from its recent trough of nearly $60, and multiple technical indicators are now moving into bullish territory.

Market observers are closely watching Solana's achievement of achieving its first monthly gain after ten consecutive months of negative declines. Although this single development does not guarantee a complete reversal of the trend, it marks a departure from a long-term period of downward pressure.

Market analyst Ash Crypto pointed out that the monthly moving average convergence divergence indicator (MACD) is about to form a bullish cross. At the same time, the monthly relative strength index (RSI) has successfully broken through a downward trend line that has restricted price movements for about two years. These technical developments suggest that bear control is weakening.

At the same time, large-scale accumulation activities have also attracted market attention. Trading analyst Ted Pillows shared on Platform X that a large whale recently purchased US$9 million worth of SOL and commented: "Smart money is now more focused on altcoins." This huge purchase further consolidates the technical enhancement seen over the longer cycle.

Key Price Barrier Analysis

SOL has successfully penetrated a key threshold. Daily chart analysis shows a decisive breakthrough above $97.70, a level that has now transformed into the main support level below current prices. Market technician Ucan Coin pointed out that $120.23 is an important resistance level coming, while $146.56 is a secondary target.

If it stays above US$120, it will establish a new higher high pattern on the daily chart. After crossing this milestone, traders will face a $130 -140 range before encountering a $146.56 resistance zone.

If SOL breaks below the support level of $97.70, bullish momentum may deteriorate and $81.35 may be retested. If the current recovery is weak, this lower threshold will become a key support area.

Chart analyst CryptoCurb observed that a significant bullish flag pattern was formed on longer-cycle charts. This pattern theoretically predicts that prices will exceed $1,000, but this is a highly speculative long-term scenario. Before such ambitious goals gain technical credibility, SOL first needs to recover price levels between $200 and $300.

Promote institutional adoption through tokenized assets

Basic network activities provide important background information for technical development. Over the past year, Solana's infrastructure handled approximately US$14.7 billion in trading volume, accounting for approximately 32% of the estimated total tokenized asset trading activity of US$46 billion, representing a significant share of all reported physical asset spot trading volume.

Backpack generated approximately $1.5 billion in stock trading volume in just two months of operation on Solana. Major institutional investors BlackRock and Securitize have issued approximately $993 million in fixed income products through the network.

World has launched Solana-based independent prediction market infrastructure, opening access to more than a million waiting list participants. The platform covers trading in markets such as NFL games, international football events, Formula One racing and the 2026 U.S. midterm elections, and the expansion plan also includes stock instruments, commodities and weather derivatives.

Ramzy Ali, head of the DeFi program at the Solana Foundation, said World is "introducing a new asset class for Solana and keeping 100% liquidity on the chain."

SOL remains at $103.47, with $105 being an immediate short-term obstacle, and then market attention will turn to the resistance level of $120.23.