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SOL Core Highlights
Key Price Threshold: If the daily closing price stands above US$106, the target is set at US$109 - 110.50; if it falls below US$98, it may test the US$94.50 - 96 range.
Transaction V1 format is officially launched: The maximum transaction capacity has been expanded from 1,232 bytes to 4,096 bytes, achieving a three-fold increase.
SOL Price Trend and Market Analysis
On September 14, Solana (SOL) prices hovered around US$101.50 after recovering from US$98.38 on September 11. In the week starting September 8, SOL started at $103.33 and then fell to a multi-week low of $98.38 on September 11. As of September 14, asset prices rebounded to approximately $101.50, a weekly decline of approximately 2.2%.
Prices are still limited by the resistance zone of US$103 - 105, and selling pressure continues to emerge to curb upward momentum. The daily relative strength index (RSI) is at 56.17, above the neutral 50 threshold but below its moving average of 60.80, indicating that bullish momentum is weakening.
Technical Analysis
Market analyst CryptoJack pointed out that SOL is approaching key resistance levels. He emphasized that once a successful breakthrough was achieved,"it could start a strong bull market" and said the level was being closely monitored.
The 4-hour chart shows that SOL is forming a symmetrical triangle for consolidation. Upper resistance is near $103, while upward support is near the $100 - 100.70 area. The Supertrend indicator is currently at $104.08 and maintains a bearish signal, adding additional resistance above the triangular structure. The Aroon indicator showed Aroon Up at 85.71%, while Aroon Down at 0%, indicating that recent price highs have occurred later than new lows. However, a clear breakthrough has not yet occurred.
Key Price Threshold
Technical analyst Ella identified US$98.50 - 100 as the key support band based on the current rally. According to her analysis, if the daily line closes steadily above $106,$109-$110.50 will become a feasible target; conversely, if the closing price is below $98, it will expose a downside of $94.50-$96.
CoinGlass clearing heat chart shows that there is concentrated short clearing in the US$102.60 - 102.90 and US$103.60 - 104 ranges. A breakthrough of $103 could trigger a chain of short liquidations, accelerating price momentum. In contrast, the long clearing cluster is located below around $98.50 - 98.80.
Transaction V1 format upgrade
In addition to price dynamics, Solana's Transaction V1 format upgrade has been activated at approximately 01:00 UTC on September 14. This enhancement increases the maximum transaction capacity from 1,232 bytes to 4,096 bytes, more than tripling the previous limit.
This upgrade provides developers with more powerful complex operating capabilities, including support for multi-signature corporate wallets, zero-knowledge proof implementations, and executing complex multi-step transaction sequences in a single atomic transaction.
Unlike the fixed transaction size caps defined by Solana, Ethereum uses a dynamic Gas limit system with no fixed size limits. This upgrade narrows this architectural difference. Traditional transaction formats are still valid, but applications and services that process Solana blockchain data must implement V1 compatibility to prevent transaction parsing errors.
The Federal Reserve will release a monetary policy statement on September 16, which may introduce higher volatility across the cryptocurrency market, including SOL.
