Solana is holding above the key $100 level after pulling back from a weekly high of $110.04, keeping its broader August recovery intact despite some cooling in short-term momentum.
SOL traded around $102.50 on Aug. 31 after dropping roughly 6.8% from its recent peak. Even with the pullback, the cryptocurrency remained up around 4.2% from its Aug. 25 opening price, while technical indicators suggested that buyers had not completely lost control.
The $100 area has now become the most important short-term support level. If bulls successfully defend it, Solana could make another attempt at $105, $107.50, and eventually $110.
Solana Price Pulls Back After Hitting $110
Solana opened Aug. 25 at approximately $98.56 before quickly gaining momentum.
Within less than three days, SOL climbed to an intraday high of $110.04 on Aug. 27, representing an advance of roughly 11.6%.
The rally eventually lost momentum, and Solana retreated to approximately $102.50 by Aug. 31.
Despite that decline, SOL was still about 4.2% higher compared with its Aug. 25 opening level.
The recent pullback also follows a much larger recovery from Solana’s early-August low near $71.
From that low to the $110.04 weekly peak, SOL gained approximately 55%.
Such a rapid increase naturally created room for traders to take profits, particularly as the market approached the end of August.
Solana’s August Breakout Remains Intact
Solana’s daily chart shows that the recent rally pushed the cryptocurrency above the upper Bollinger Band before sellers appeared around the $110 region.
After the pullback, SOL returned inside the Bollinger Bands but remained comfortably above the indicator’s middle band near $90.36.
The upper Bollinger Band stood around $114.36, while the lower band was near $66.36.
Moving above the upper Bollinger Band generally reflects strong buying momentum, but it can also indicate that an asset has moved too quickly compared with its recent volatility.
SOL’s return inside the band therefore does not automatically signal the end of its recovery.
Instead, it suggests that the market may be cooling after the strong late-August rally.
Solana RSI Cools From Overbought Levels
Solana’s Relative Strength Index also reflects the slowdown in momentum.
The daily RSI had moved above 70 during the rally, placing SOL in technically overbought territory.
By Aug. 31, the indicator had fallen to approximately 68.43.
Its RSI moving average remained higher at around 77.14.
The decline suggests that buying momentum has weakened compared with the peak of the rally, but an RSI near 68 still indicates relatively strong market conditions.
Cooling from overbought levels can sometimes allow an asset to consolidate before attempting another move higher.
However, whether that happens for Solana will largely depend on how the price behaves around the psychological $100 level.
$100 Becomes Solana’s Most Important Support
The four-hour chart places Solana’s Supertrend support near $100.95.
That level sits just below the current market price and has become one of the most important technical areas for traders to monitor.
SOL has remained above its Supertrend indicator since breaking out from the mid-$70 range, keeping the short-term market structure bullish.
As long as Solana remains above approximately $100 to $101, buyers could still maintain control of the broader move.
A sustained break below this zone, however, would weaken the current setup.
If $100 fails as support, the next downside level could appear near $97.50.
A deeper correction could then bring the previous breakout zone between approximately $92 and $95 back into focus.
Buying Pressure Has Weakened
While the overall structure remains constructive, some short-term indicators show that buyers have become less aggressive.
Solana’s four-hour Chaikin Money Flow stood near minus 0.07.
A negative CMF reading indicates that capital flow has shifted slightly toward the selling side as SOL retreats from its $110 high.
The reading is not strongly bearish, but it does show that buyers have not yet returned with the same strength seen during the earlier breakout.
A recovery in CMF above zero, combined with SOL holding above the $100.95 Supertrend level, could provide stronger confirmation that the pullback is coming to an end.
Solana Bulls Need to Reclaim $105
On the upside, Solana faces its first meaningful resistance between approximately $104 and $105.
Several recent rebounds have struggled around this area.
A convincing move above $105 could allow buyers to target approximately $107.50.
Beyond that level, attention would return to the Aug. 27 high at $110.04.
A daily close above $110 would strengthen the bullish case considerably and could bring the upper Bollinger Band near $114.36 into focus.
For now, however, bulls first need to prove they can defend $100 and regain the $104–$105 area.
Solana Liquidation Levels Could Increase Volatility
Solana’s liquidation heatmap shows significant concentrations of leveraged positions both above and below the current market price.
The strongest nearby downside liquidity cluster appears around $100.50 to $101.
This overlaps closely with the four-hour Supertrend support.
If SOL drops into this area, leveraged long positions could begin getting liquidated.
Those forced liquidations could potentially increase selling pressure and accelerate a move below $100.
Additional liquidity concentrations are visible near $99 and $97.50.
These levels could become more important if sellers manage to break the psychological $100 support.
Short Liquidations Could Help SOL Retest $110
There are also significant leverage concentrations above Solana’s current price.
Liquidation clusters appear around $104 to $105, followed by larger concentrations near $107.50 to $108.
If Solana rebounds and moves through these levels, leveraged short positions could be forced to close.
Short liquidations typically require traders to buy back the asset, which can add additional upward pressure during a rally.
That could potentially help SOL build enough momentum for another test of $110.
However, liquidation heatmaps do not determine which direction the market will move.
They simply highlight areas containing significant leveraged positions where volatility could increase once the price reaches them.
Analyst Sees Bigger Solana Breakout Potential
Crypto analyst Gerla suggested that Solana may be forming a larger bullish structure beyond the immediate $100 to $110 trading range.
According to the analyst, SOL has broken out of a downtrend that lasted roughly one year and is beginning to establish a higher-low structure.
The analyst identified $100 as an important base and suggested that a successful longer-term reaccumulation could eventually support a significantly larger expansion.
A potential target above $300 was mentioned under that longer-term scenario.
However, such a target remains highly speculative and sits far above Solana’s current technical levels.
Before a move of that scale becomes realistic, SOL would first need to overcome several nearer resistance zones.
Solana Must First Break $110 and $114
For the larger bullish scenario to develop, Solana would initially need to reclaim its Aug. 27 high near $110.
Beyond that, the cryptocurrency would need to break through the daily upper Bollinger Band around $114.
Several additional resistance levels created during Solana’s decline from its 2025 peak would also need to be cleared.
As a result, the $300 projection should be viewed as a long-term speculative scenario rather than an immediate price target.
The shorter-term technical picture remains much simpler.
Holding above approximately $100.95 keeps the current four-hour bullish structure intact.
From there, buyers could target $105, followed by $107.50 and $110.
Losing $100, meanwhile, would increase the risk of a correction toward $97.50 and potentially the $92–$95 area.
Solana Price Faces a Crucial $100 Test
Solana’s next major move may ultimately depend on whether buyers can continue defending the $100 region.
The token’s retreat from $110 has cooled an overheated rally, with the daily RSI dropping back below 70 and short-term capital flows turning slightly negative.
However, the broader August breakout has not yet been invalidated.
As long as SOL stays above its Supertrend support near $100.95, buyers retain an opportunity to regain $104–$105 and make another attempt at the $110 resistance level.
A clean break above $110 could place approximately $114 in focus and strengthen the case for a continuation of Solana’s broader recovery.
On the other hand, a decisive loss of $100 accompanied by stronger selling pressure could shift momentum toward $97.50 and eventually the $92–$95 support zone.
With significant leveraged positions concentrated on both sides of the current price, volatility could increase once SOL moves beyond its current range.
