Solana (SOL) has posted a weekly gain of 5.9% as it attempts to recover from a prolonged downward trend. Despite the recent uptick, the token remains far below its previous highs following a tough year that saw its price fall to a low of $60.13 on June 6, the weakest level since December 2023.
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AAPLAnalysts eye breakout as technical signals flash buy
Market analysts have suggested that a potential shift in momentum could be underway for Solana. Ali Martinez, a well-followed crypto analyst, indicated that technical indicators hint at the possibility of a significant rally if key resistance levels are surpassed.
Martinez highlighted the TD Sequential indicator, which recently issued a buy signal on the daily chart for SOL. He stated that surpassing the $78.7 resistance could pave the way for a rise to $100.
Martinez underscored that a move above $83 would further build the case for Solana to target $98, following the initial breakthrough at $78.7.
The analyst also pointed to a golden cross on the MACD chart, a common bullish indicator suggesting a potential momentum reversal from bearish to bullish. He argued that if demand increases, SOL could first advance to $83, which may catalyze further gains.
Solana is currently trading within a parallel channel pattern, and Martinez noted that this setup appears primed to flip bullish should trading conditions improve.
Mini dictionary: TD Sequential, a technical analysis indicator used to identify potential turning points in price momentum by generating buy or sell signals based on a sequence of specific price patterns.
Volume metrics remain cautious
Despite the positive signals, other indicators suggest the market’s overall sentiment remains cautious. Solana’s recent attempt to break through the 61.8% Fibonacci retracement near $83 was unsuccessful, though the price has managed to hold above $70.
Volume-based measures offer a mixed outlook. The On-Balance Volume (OBV) indicator, a tool used to analyze the flow of volume in and out of an asset, has not returned to its June peaks, but has formed higher lows over the past week. Meanwhile, the Accumulation/Distribution (A/D) line has edged up slightly this month, lacking a definitive upward trend.
Some traders caution that sellers are still controlling momentum, noting that any sustained rally could require a decisive reclaiming of the $78.7 resistance level.
Until SOL achieves a clear breakout above recent swing highs, many market participants are expected to maintain a bearish bias and may use intermittent price surges as opportunities to reduce exposure.
Proposal aims to overhaul fee structure
In parallel with market developments, Solana’s community recently moved forward with a Resource and Inclusion Fee proposal. The first voting phase passed on August 4, with plans to increase the daily rate of SOL burned from 650 to 9,000 tokens, representing a fourteenfold increase.
This proposal, which still requires one more round of approval, is positioned as one of the most significant potential changes to Solana’s fee and resource management architecture in 2026.
Mini dictionary: Burn rate, the amount of cryptocurrency permanently removed from circulation to help manage supply and potentially increase token value.
As of the latest market update, Solana is still trading below the $78.7 resistance level that analysts consider pivotal for any sustained upward momentum.
| Metric | Recent Value | Reference Date/Level |
|---|---|---|
| Lowest price | $60.13 | June 6 |
| Weekly gain | 5.9% | Past 7 days |
| Annual decline | 57% | Past year |
| Key resistance | $78.7 | Current |
| Potential target | $100 | If resistance breaks |
| Proposed daily burn | 9,000 SOL | Upcoming fee change |
