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SOL Solana is trying to break through the psychological $100 barrier and return to trading horizons in the $110 to $120 range
Solana is trying to extend its recent rebound beyond the psychologically important $100 level, bringing $110 and potentially $120 back into traders 'attention. Previously, SOL retreated after hitting a high of about $110 at the end of August and is currently trading between $101 and $102. Although token prices are well above summer lows, whether the next round of gains can unfold depends on whether buyers can convert the $100 area into solid support.
Recent technical analysis shows immediate resistance in the US$104 to US$107 range, followed by a dense liquidity area between US$108 and US$110. A clean break through the area would greatly improve Solana's short-term price forecast and reopen the path to $120.
Bulls need to clear the $110 barrier
The current market structure is relatively clear. Analyst Ucan recently pointed out that $97.70 is an important support level, and as long as prices remain above this level, the bullish structure will remain intact. At the top,$120 is a key large-level breakthrough target; once this resistance is cleared, it could point to a significantly higher target price.
Therefore, the area between $100 and $110 is particularly important. Solana was blocked near $110 in a previous rebound in August, while short-term clearing liquidity remained concentrated in the $108 to $110 range. Crypto.news identified resistance levels around $106.25 and $112.50 after SOL retreated from its August peak.
Therefore, if the daily line closes firmly above US$110, it will strengthen the argument for prices to continue their rally to US$120. Conversely, if support between US$97 and US$100 is lost, SOL may face another round of correction and fall to the low US$90 range.
ETF demand still supports the overall picture
Institutional demand remains one of Solana's strongest fundamental supports. The U.S. Solana ETF entered in September after a strong August, which included 11 consecutive days of positive net inflows, although the momentum subsequently cooled. We have previously tracked the institutional drive after Solana ETF assets exceeded the $1 billion mark.
The slowdown is important because ETF buying has helped support SOL's recovery from summer lows. If inflows accelerate again, it could provide the additional demand needed to challenge the $110 resistance zone.
Solana's top holders increase variables
During potential breakthroughs, the dynamics of large wallets are also worthy of close attention. The current Solana Wealth Rankings show that there are multiple addresses holding millions of SOLs. The largest address tracked currently holds approximately 5.18 million SOLs, accounting for approximately 1% of the tracked supply. However, analysis of the largest wallets shows that many accounts are pledged accounts rather than individual giant whales ready to sell.
This distinction is crucial: the large number of positions shown in chain data may seem threatening on the surface, but it does not necessarily represent liquidity that is about to enter the exchange.
