Solana Holds $103 as $110 Resistance Looms, RWA Inflows Hit $348M

Solana is trading around $106.50 today, up close to 3.1% over the last 24 hours. The token has bounced back from a recent dip and is sitting just below the $110 area that has rejected it before.

This move comes just ahead of a big network update. Solana's Transaction V1 mainnet upgrade is set to go live on September 9. Traders seem to be watching this date closely.

Over the past seven days, the altcoin is up about 2.6%. That gain follows a sharper rally from the $75-$80 zone back in August, which set the stage for the current price action.

Where Is Solana Price Right Now?

At press time, SOL trades near $106, having also spent time closer to $103 after bouncing off $98 support. This is being read by some traders as a corrective, bullish consolidation rather than a straight breakout.

Bulls want to see a clear $110 with strength. A clean break there could open the door to higher targets, though nothing is guaranteed in this market.

Why Does September 9 Matter For Solana?

The Transaction V1 upgrade increases the maximum transaction size from 1,232 bytes to 4,096 bytes. That is roughly 3.3 times more room for data inside a single transaction.

This extra space can support things like ZK proofs, BLS signatures, big multisig setups, and confidential transfers. Some workloads that once needed several transactions may now fit into one.

Older transaction formats are not going away. The Solana Foundation says legacy and v0 formats will keep working as normal. Only developers who need the bigger size will need to use V1.

Testing began on September 1, giving builders a short window to check their tools before mainnet. RPC providers and indexers will need updated software to read the new format correctly, or they may return errors.

What Are The Key Solana Resistance And Support Levels?

Liquidation heatmap data points to a few zones worth watching. Here is a quick breakdown:

The $115-$120 band sits just above the $110 rejection point. If the altcoin keeps climbing, this is the first area where leveraged positions are bunched up.

A bigger pool of liquidity sits farther out near $145-$150. Getting there would likely require $SOL to first clear the $115-$120 zone and hold above it.

Is Solana In A Wave 4 Correction?

According to chart analysis shared by More Crypto Online, Solana may still be inside a corrective wave 4 pattern following the rejection near $110. The recent price swings have been forming overlapping three-wave moves rather than a clean trend.

One reading suggests the current bounce could be a B-wave that pushes above the September 3 high. After that, a C-wave decline could follow to complete the wave 4 pattern.

The $90.46 to $94.83 range is being treated as a key support pocket in this outlook. Holding above this zone would keep the idea of a later wave 5 rally alive.

A drop below $90.46 would weaken this bullish structure and point toward a deeper pullback.

Solana Price Prediction: What Traders Are Watching Next

Solana's next move likely depends on whether it can push past $110 with real volume behind it. Failure to hold above $100 could send price back toward earlier breakout levels near $90-$95.

Institutional activity is also worth noting. Solana has pulled in $348 million in net real-world asset inflows over the past month, pushing its total RWA value to $4.23 billion.

That kind of inflow can add support under the price, though it does not remove short-term volatility.

Liquidation maps show where positions are clustered, not where price must go. Markets can and do ignore these zones, so traders should treat them as reference points, not promises.

For now, Solana sits in a tricky spot between recovery and correction. The days around the Transaction V1 launch could bring more volatility than usual.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and unpredictable. Always do your own research and consult a licensed financial advisor before making any investment decisions. Past performance is not indicative of future results.