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Following
SOL Solana fell below the 100-dollar mark, putting key support levels under test.
Solana (SOL) prices have fallen back below $100, making this key price level once again the focus of market attention. On September 14, SOL traded at approximately US$98.30, down approximately 2.2% within the day and approximately 4.7% on the seventh day. Macroeconomic pressures and weakening demand for ETFs have dragged down the overall market.
Therefore,$100 has become an immediate line of defense that currently requires close attention. Throughout September, Solana has conducted multiple tests in the area. Market analysis pointed out that the breakthrough zone of US$97.70 is a key watershed that distinguishes a constructive recovery from a deeper correction.
Outlook after breaking through US$100
If SOL can effectively recover the US$100 mark, it does not mean that it will immediately return to the overall bull market trend. The primary challenge lies in the $106 - 110 range, where previous price behavior and clearing liquidity have created resistance. On this basis, technical analysis identified $117 - 120 as the next important obstacle.
This paints a relatively clear path for the market:
- Bear scenario: If the $98 support falls, the correction may deepen and the target is looking at $80-$85.
- Baseline scenario: SOL may be volatile and consolidating around the psychological barrier of $95-$100.
- Bullish scenario: Buyers regain momentum and prices are expected to hit the $106-$120 range.
- Breakthrough Scenario: If it effectively exceeds $120,$145-$150 will become a more realistic target price.
So while it is encouraging to stand above $100, the stronger confirmation signal comes from clearing resistance in the $106 - 120 zone.
ETF demand cools
Institutional demand also sends mixed signals. The cumulative net inflow of Solana ETF is approximately US$1.3 billion, and Bitwise's BSOL recently became the first U.S. Solana ETF to exceed US$1 billion in assets. However, recent flows of funds have become less consistent. On September 9, the Solana ETF recorded an inflow of approximately $11.7 million, followed by a small net outflow on September 10 and 11.
This is critical because the rebound of more than $100 in August is closely correlated with strong institutional buying. If consistency is restored to ETF inflows, it will help maintain further breakthroughs in SOL.
Network fundamentals present a different narrative
A more unique phenomenon is that certain parts of the Solana network continue to expand despite weak price performance. According to reports, as of September 12, the number of addresses holding tokenized shares on Solana has exceeded 800,000, compared with approximately 425,000 at the beginning of September, an increase of approximately 88% in less than two weeks.
This divergence makes sense: SOL's price momentum has cooled, but user adoption around tokenized stocks is accelerating. If this activity turns into a lasting demand rather than a temporary craze, network-level stories may eventually become a stronger fundamental positive. Previous data also showed that ETF momentum helped SOL hold the US$100 mark, so the current combination of weakened capital flows and enhanced network activity deserves special attention.
Can Solana hit $120 again?
The current technical form is relatively clear:
- Above US$100: First challenges the US$106 - 110 range.
- Above US$110: US$117 - 120 will be the main test point.
- Above $120: The $145 - 150 range is back in view.
- Below US$97: Increased downside risks may look towards the US$80 - 85 range.
Currently, Solana is in the middle of a game between improved network fundamentals and Tougher's market background.
