After months of waiting, Solana finally broke the US$100 mark. What is the next step?

Solana price breaks through US$100: Analysis of key points and subsequent trends

Solana price finally broke through the US$100 mark. This breakthrough is significant because SOL has been hovering below $100 for months.

The rise came after a week of gains of more than 25% and was accompanied by new funds flowing into the Solana ETF. The latest trading price of SOL was approximately US$99.78, an intraday increase of more than 5%. Its market value is currently US$58.06 billion, with a circulating supply of 583.37 million SOL units, and a total supply of 632.85 million units.

Traders are now focusing on: Can $100 be a support level, or is it just a brief pulse?

Why did Solana rise today?

The main factors driving Solana's rise are the following:

First, the spot SOL ETF had a net inflow of US$33.49 million on August 24, the strongest one-day inflow since December 2025. Among them, the Bitwise Solana Staking ETF (BSOL) led the way, attracting US$25 million. Daily trading volume of the SOL ETF also hit a record high of $166 million.

Secondly, online activity set a record. Solana processed more than 1.3 billion non-voting transactions last week, breaking a record set just seven days ago.

Third, Solana has surpassed major centralized exchanges such as Coinbase, Bybit and Kraken in weekly DEX spot trading volume. This is the ninth consecutive week and is currently second only to Binance.

What does ETF inflow data say?

The following is an overview of the latest SOL ETF data as of August 24, 2026:

BSOL (Bitwise): Pledged-Yes, asset management scale is US$769.79 million, daily inflow is US$25 million, 24-hour trading volume is US$108.66 million, and total net inflow is US$953.86 million.
GSOL (Grayscale): Pledge-Yes, asset management scale is US$123.22 million, daily inflow is US$3.7 million, 24-hour trading volume is US$42.25 million, and total net inflow is US$116.1 million.
FSOL (Fidelity): Pledge-Yes, the asset management scale is US$156.27 million, the daily inflow is US$4.8 million, the 24-hour trading volume is US$11.1 million, and the total net inflow is US$200.81 million.
VSOL (VanEck): Pledge-Yes, the asset management scale is US$18.62 million, the daily inflow is US$2.7 million, and the 24-hour trading volume is US$20.32 million.
SOEZ (Franklin): Pledge-Yes, the asset management scale is US$10.22 million, the daily inflow is US$1.13 million, and the 24-hour trading volume is US$7.97 million.
MSOL (Morgan Stanley): Pledge-Yes, the asset management scale is US$28.91 million, the daily inflow is US$0.24-hour trading volume is US$457.95 million, and the total net inflow is US$22.29 million.
TSOL (21Shares): Pledge-Yes, the asset management scale is US$3.81 million, the daily inflow is US$364,000, and the total net outflow is US$9.641 million.
SOLC (Canary Marinade): Pledge-Yes, the asset management scale is US$1.83 million, the daily inflow is US$0, the 24-hour trading volume is US$103,400, and the total net inflow is US$1.5 million.
QSOL (Invesco Galaxy): Pledge-Yes, asset management scale is US$4.63 million, daily inflow is US$0, 24-hour trading volume is US$57.34 million, and total net inflow is US$3.13 million.
Total for all issuers: asset management scale is US$1.12 billion, daily inflow is US$33.5 million, 24-hour trading volume is US$166.82 million, and total net inflow is US$1.23 billion.

Most of the inflows came from BSOL alone, indicating that large investors are currently leaning towards supporting pledged products.

Does Solana currently outperform Ethereum?

Yes, at least for now. Among the gains, the SOL/ETH trading pair rose 4.72%. This means that Solana has gained an advantage over Ethereum for the first time in this market cycle. Some traders believe this is a signal that funds are rotating from ETH to SOL. However, it is too early to say this is a long-term trend, but it is worth watching in the coming weeks.

How is the Solana derivatives market performing?

Solana's futures market heats up as prices rise. 24-hour futures volume surged 79.34% to US$15.85 billion. Open interest contracts, a measure of the value of open futures contracts, rose 11.08% to $6.61 billion.

Liquidation volume has also increased. In the past 24 hours,$24.7 million of positions were cleared, of which $16.76 million came from short SOL and $7.94 million came from long positions. Interestingly, long liquidations were higher than short ones in the shorter one-and four-hour windows. In the past hour, long positions cleared $1.18 million, while short positions only $24.61 million. During the four-hour window, the bulls lost $3.3 million and the bears lost $306.25 million. This indicates that there is volatile and rapidly changing price behavior in the surge trend.

Option activity is also increasing. 24-hour spot volume reached US$1.88 billion, options volume rose 26.84% to US$21.17 billion, and options open interest rose 4.36% to US$143.57 billion.

The long-short sentiment of each exchange is mixed to slightly bearish based on the number of accounts. The overall long-short ratio was 0.9996, which was close to flat. In currency, the SOL/USDT long-short account ratio is 1.751, while on OKX it is 1.53. Among Binance's top traders, the account ratio is 1.9274, and the position-based long-short ratio is 2.1757, indicating that large traders are more bullish than the overall market.

Solana Price Forecast: What does the chart say?

The daily chart shows Solana breaking through the eight-month sideways range. On the daily candle chart, SOL opened at US$98.99, hitting a high of US$103.00, a low of US$98.57, and closing at US$99.78, up 0.82% on the day. The volume on KuCoin was 152,030.

SOL has risen from a low of about $60 in June and has now broken through the $98 to $100 resistance zone that has suppressed prices since January. Moving averages support bullish views: SOL is trading above the 20-day EMA ($85.00), 50-day EMA ($80.05), 100-day EMA ($80.13) and 200-day EMA ($89.45). This EMA ranking is often seen as a healthy bullish signal.

If SOL can use the US$98 to US$100 region as a new support level, the chart pattern points to a possible US$110 to US$120 upside. Continued gains could open the door to $130 to $135, but that is not certain. On the other hand, the Relative Strength Index (RSI) is currently around 87 and has entered a deeply overbought area, so a correction is not surprising. Before Solana's next rise, it could pull back to the $95 to $100, or even the $89 to $90 area. If the daily line closes below $85, it will weaken this bullish pattern and refocuse on the $80 support area.

Network upgrades add bullish reasons

In addition to price movements, Solana's technology roadmap is also moving forward. The Agave 4.2 upgrade is now available on the main network, bringing greater transaction capacity and starting to shorten the block time in stages, from 400 milliseconds to 200 milliseconds.

Looking ahead, Solana is preparing for Alpenglow-a new consensus upgrade aimed at achieving approximately 150 milliseconds of final confirmation, with mainnet activation expected in the third quarter of 2026. Faster final confirmation and higher throughput may support network demand in the long term, especially if transactions and DeFi activity continue to grow.

Key point observation

Resistance level: US$100, then US$110 to US$120, with US$130 to US$135 as the upside target.
Support level: Focus first on US$95 to US$100, then US$89 to US$90, with US$80 being the deeper support area.
Kinetic energy signal: RSI is close to 87, indicating an overbought condition and a possible short-term cooling.

Summary

Solana's breakthrough of $100 was an important technical event after months of sideways trading. Increased ETF inflows, record Internet activity and Solana's growing share of DEX trading volume all indicate that demand is strengthening. At the same time, an RSI close to 87 is a warning sign that the market may be overstretched in the short term. Unless the SOL daily closes back below $85, a cooling or correction will not undermine the larger bullish structure. Traders following Solana price movements may be watching whether $100 can be an effective support in the coming days and weeks.