Solana's Breakout to $117 Hinges on Holding Key Resistance Zone
Solana's price has reached the psychologically important $100 level after a strong rebound in late August. This move has broken several technical barriers, but the next step depends on whether buyers can defend former resistance as support.
The chart shows that the immediate battleground is around $98-$100, with $117 being the first major upside target. If the breakout survives a deeper retest, a broader bullish structure may develop.
Solana's price has broken above the descending trendline that controlled its price action from previous highs near $250. This move is seen as a market structure shift, or MSS, which means price has broken a previous structural barrier.
However, the technical improvement comes at a challenging time for global markets, with rising Treasury yields, a stronger US dollar, and escalating Middle East tensions pressuring risk appetite. Solana also faces a network catalyst later this month with the Agave v4.3 rollout schedule targeting September 21 for recommended general mainnet adoption.