Solana Bulls Eye $120 as Token Continues Its Upward Trajectory
Solana's SOL token has been on a tear since August, surging from around $75 to its current price of approximately $116.27. This upward trajectory has formed a series of progressively higher lows, indicating sustained momentum.
The daily price chart shows that SOL successfully breached a resistance corridor spanning $95 to $100 earlier this month, which had previously rejected multiple rally attempts during the first half of 2026. Market participants are now closely monitoring the $118-$120 price region, with some analysts predicting a decisive move above $120 could mark SOL's strongest position since its earlier decline.
Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are also indicating bullish signals. However, a retrace from present levels would place the initial support layer at the ascending trend line, with the broader $95-$100 region remaining significant as the primary support floor.
The Solana Foundation has been expanding its leadership team, appointing Rachel Conlan as chief strategy officer and Jamal Raees as general manager of payments. The foundation's commitment to institutional collaboration and payment infrastructure expansion is evident in its recent hiring spree. Meanwhile, the value of real-world assets deployed on Solana has surpassed $4.5 billion.