š„ SOL IS STILL FIGHTING $120
This is the part Iām watching.
SOL keeps coming back to the $120 area, but buyers still havenāt managed to turn that level into support. At the same time, the backdrop underneath the chart is getting harder to ignore.
U.S. spot SOL ETFs pulled in $188M+ last week, with all seven funds seeing inflows. The streak continued on Sept. 29 with another $5.4M coming in.
Solanaās stablecoin supply also hit a new record around $17.3B, while weekly network fees climbed to roughly $112.9M. RWA value has also moved above $4.6B.
And then thereās Alpenglow.
The upgrade is already being tested, targeting around 150ms finality versus roughly 12.8 seconds today. But itās still in testing, not live on mainnet, so Iām not treating that as a finished catalyst yet.
So hereās the simple part:
$120 reclaimed and held ā $123ā125 comes into focus.
$125 breakout ā $130+ becomes the next area Iād watch.
But if $120 keeps rejecting and $115 breaks, the chart gets a lot less comfortable. Then Iād be looking toward $111 and $106ā107.
Thatās why Iām not interested in chasing SOL in the middle.
The interesting question isn't whether Solana has strong numbers right now.
Itās whether all that underlying demand can finally push price through the wall at $120ā125. š $SOL
Not financial advice. This is a market view for education only, so do your own research and manage your risk.
This is the part Iām watching.
SOL keeps coming back to the $120 area, but buyers still havenāt managed to turn that level into support. At the same time, the backdrop underneath the chart is getting harder to ignore.
U.S. spot SOL ETFs pulled in $188M+ last week, with all seven funds seeing inflows. The streak continued on Sept. 29 with another $5.4M coming in.
Solanaās stablecoin supply also hit a new record around $17.3B, while weekly network fees climbed to roughly $112.9M. RWA value has also moved above $4.6B.
And then thereās Alpenglow.
The upgrade is already being tested, targeting around 150ms finality versus roughly 12.8 seconds today. But itās still in testing, not live on mainnet, so Iām not treating that as a finished catalyst yet.
So hereās the simple part:
$120 reclaimed and held ā $123ā125 comes into focus.
$125 breakout ā $130+ becomes the next area Iād watch.
But if $120 keeps rejecting and $115 breaks, the chart gets a lot less comfortable. Then Iād be looking toward $111 and $106ā107.
Thatās why Iām not interested in chasing SOL in the middle.
The interesting question isn't whether Solana has strong numbers right now.
Itās whether all that underlying demand can finally push price through the wall at $120ā125. š $SOL
Not financial advice. This is a market view for education only, so do your own research and manage your risk.