Solana Price Stabilizes at $100 as Momentum Cools
Solana's price has stabilized around $100 after its late-August rally stalled near $110. According to data from crypto.news, Solana (SOL) price was trading near $102.30 at the time of writing, down about 0.7% on the daily chart but still above the psychological $100 level.
The token's ability to outperform several other large-cap cryptocurrencies followed Charles Schwab’s plan to add SOL trading alongside Avalanche and Chainlink. However, the broader crypto market was also rising at the time, making it difficult to assign the full rally to the Schwab development.
Technical indicators point to consolidation, with a 4-hour Average Directional Index (ADX) of 17.47 showing that the earlier upward trend has lost strength. The Bollinger Bands are also beginning to narrow after expanding sharply during the rally.