Solana Price Prediction Eyes $110 as Network Activity Surges
The Solana price prediction remains bullish but cautious as it presses against a resistance zone that has capped recent rally attempts. The SOL price has climbed sharply since August 18, breaking above an ascending trendline and pushing into the $98 to $100 resistance zone, which has rejected price twice already.
Record network activity and strong ETF demand support the bullish case, with Solana processing over 1 billion transactions for the fourth consecutive week. The Bitwise Solana ETF, BSOL, recorded its highest trading volume ever on August 24, surpassing $108 million in a single day.
A major SOL holder unstaked more than 40,000 SOL and moved 45,600 SOL to market maker Wintermute after realizing a $3.3 million loss, adding a note of caution to the bullish case. However, this move may be seen as normal profit-taking rather than an early warning sign.
The Solana price prediction eyes $110 if the rising wedge pattern breaks out, while the bearish risk level is $93 to $95 if the pattern resolves lower instead.