Solana Price: Analyst Says SOL Could Be Starting a Bullish

Reversal

Solana (SOL) is showing signs of a potential bullish reversal as buyers defend key support levels and technical indicators point toward another attempt at higher resistance. The setup comes as SOL remains near the $100–$105 region after its recent recovery from the $70s.

What Happened?

The latest analysis highlighted a potential shift in Solana’s short-term trend. SOL has recently pulled back from the $109–$110 area, but the decline has not yet broken the broader bullish structure.

Recent market analysis places $103–$103.35 around an important pivot. Holding this zone could keep the door open for another move toward $109–$110.

Why Analysts See a Bullish Reversal

Several factors are supporting the bullish case:

• SOL remains above several key moving averages.
• The recent decline has so far looked more like a pullback than a complete trend reversal.
• The $100 area continues to attract buyers.
• Network activity and real-world-asset adoption remain areas of strength.
• Solana's Transaction v1 upgrade is now live, increasing maximum transaction size from 1,232 to 4,096 bytes.

Another analyst, Wayne Liang, recently suggested that SOL could be approaching another upward leg after its previous move from around $75 to approximately $109.

SOL Key Support and Resistance Levels

Level	Significance
$109–$110	Major upside resistance
$103–$105	Immediate pivot/resistance
$100–$103	Key support zone
$98–$99	Important breakout support
$90–$92	Deeper support

A sustained break above $109–$110 would strengthen the bullish reversal argument and could put higher levels such as $115–$120 into focus.

Conversely, losing the $98–$100 region would weaken the setup and increase the probability of a deeper correction.

Solana Transaction v1 Adds a Fundamental Catalyst

Solana's Transaction v1 upgrade went live on September 9, increasing the maximum transaction size by more than three times.

The larger capacity is designed to accommodate more complex operations, including zero-knowledge proofs, larger multisignature transactions and other advanced applications. However, the upgrade increases transaction capacity rather than automatically making the entire network three times faster.

ETF Flows Remain a Risk

Not every indicator is bullish.

Solana ETF inflows reportedly slowed sharply during the week ending September 4, falling to around $6.18 million from approximately $153.87 million the previous week. That suggests institutional demand needs to strengthen if SOL is to sustain another major breakout.

Bullish Scenario

If SOL holds above the $100–$103 support zone and buyers reclaim $105, the next important test is around $109–$110.

A decisive breakout above that area could shift attention toward:

$110 → $115 → $120

This scenario would be strengthened by improving ETF flows, rising spot demand and continued network activity.

Bearish Scenario

The bullish structure would weaken if SOL loses $100 and fails to recover it.

A sustained break below the $98–$100 zone could expose:

$98 → $95 → $90–$92

That would suggest the recent rally is undergoing a deeper correction rather than beginning a fresh bullish leg.

What Investors Should Watch

The most important factors for SOL now are:

1. $103–$105: Can buyers reclaim this zone?
2. $109–$110: Major breakout area.
3. $98–$100: Key downside protection.
4. ETF flows: Whether institutional demand returns.
5. Transaction v1 adoption: Whether developers take advantage of the larger transaction capacity.
6. Bitcoin direction: SOL remains highly sensitive to broader crypto-market risk appetite.

FAQ

Is Solana starting a bullish reversal?

Possibly. SOL is holding important support and remains above several longer-term moving averages, but confirmation would require stronger price action above $109–$110.

What is the key support for SOL?

The $100–$103 area is currently important. A move below $98–$100 would weaken the bullish setup.

Could SOL reach $120?

A move toward $120 becomes more plausible if SOL decisively breaks $109–$110 and maintains strong buying volume. This is a market scenario, not a guaranteed price target.

What is the biggest risk to the bullish outlook?

A sustained loss of $98–$100, combined with weak ETF flows and a broader crypto-market correction, could invalidate the near-term bullish setup.

Final Take

Solana is approaching an important technical decision point. The recent pullback has not yet damaged the broader recovery, while $100–$103 remains a key demand zone and $109–$110 is the major breakout level.

For bulls, a clean move above $110 would provide stronger confirmation of a new upward leg. Until then, the current setup is better described as a potential bullish reversal rather than a confirmed trend change.