Solana rose 3.5% in the past 24 hours to trade near $100 on September 17, extending its rebound after dropping below $96 earlier in the week. According to CoinGecko, SOL’s price at the time of writing was $100, reflecting a gain of 0.3% in the past hour and 31.6% over the last 30 days.
Recovery driven by fresh demand and MOEX futures launch
SOL’s latest move coincided with the Moscow Exchange (MOEX) announcing plans to introduce perpetual futures tied to its Solana index, scheduled for September 22. MOEX is the largest securities exchange in Russia, providing market infrastructure for equities, bonds, derivatives, and foreign exchange trading. The exchange unveiled this product on September 16 alongside similar contracts for Bitcoin, Ether, XRP, and Tron.
The new contracts will function as one-day futures with automatic rollover, accessible only to qualified investors. Prices for these contracts will be listed in US dollars, while settlement will take place in Russian rubles, with no physical delivery of the underlying cryptocurrencies.
MOEX reported that more than 72,000 qualified investors have participated in its crypto-linked futures, generating a cumulative turnover exceeding 600 billion rubles.
Solana’s rebound began after falling from an opening price near $102.59 on September 15, closing the day at $96.93, with an intraday low below $96. The token recovered by 1.73% on September 16, followed by another upward move that lifted it back above $100.
Macro pressures from US Federal Reserve policy
US monetary policy continues to influence cryptocurrency markets. The Federal Reserve raised its benchmark interest rate by 25 basis points on September 16, bringing the target range to 3.75%–4%. This increase marks the first hike in over three years. Median projections from Federal Reserve officials indicate a possible additional quarter-point increase before the end of 2026. Following the rate decision, the dollar strengthened and short-term Treasury yields climbed, while Solana recovered from its previous decline.
Rising borrowing costs remain a key macro factor as the Fed addresses persistently high inflation.
Institutional and technical developments
Institutional access to SOL remains under focus, as regulated products such as spot Solana exchange-traded funds continue to offer exposure. Although recent flows have been smaller than earlier accumulation periods, the MOEX listing provided a fresh catalyst behind Thursday’s positive price action.
Separately, Solana’s Alpenglow upgrade is anticipated as a significant network development. This proposed consensus system aims to replace TowerBFT and reduce transaction finality time to approximately 150 milliseconds, down from the current 12.8 seconds.
Mini dictionary: Alpenglow is an upcoming Solana consensus protocol upgrade, designed to reduce transaction finality times and improve network scalability by replacing the TowerBFT mechanism.
Mainnet activation for Alpenglow has been expected during the third quarter of 2026, in line with Anza’s Agave 4.3 release schedule.
SOL price analysis and technical outlook
On the daily chart, Solana traded near $100 following a retracement from its late August high around $110. The recent decline reached the $96 to $97 range before buyers returned, establishing $97.16 as the nearest support and $109.32 as a resistance target.
Technical indicators show the trend remains intact. The Directional Movement Index reveals an ADX reading of 41.64, signaling strong momentum, with the +DI line at 24.99 above the −DI at 14.88. The gap between these directional lines has narrowed, reflecting some moderation in upward momentum.
“A daily close above the recent $103 to $105 trading area could shift focus to the $109.32 resistance. Breaking above this level would put late August and early September highs in play, potentially opening a path toward $112.50 and $115. Conversely, failure to maintain the $97.16 support would weaken the recovery, with further downside toward $94 to $95 and then $90,” analysts noted.
On the 4-hour chart, SOL’s Rate of Change indicator has climbed to 3.42 after dropping below zero during the September 15 selloff. Price has followed this move back into positive territory, rebounding from below $97 to just over $100.
The Accumulation/Distribution line, now at 139.93 million, has turned higher after a period of decline, though it remains below its early September peak above 142 million. This indicator’s rise corresponds with SOL’s price recovering from the $96 region.
| Price Area | Support | Resistance |
|---|---|---|
| Immediate | $97.16 | $102.50 |
| Short-term | $94–$95 | $105 |
| Mid-term | $90 | $107.50–$110 |
| Long-term | – | $112.50–$115 |
A break above $105 would bring the $107.50 to $110 region into focus. If SOL is rejected below $102.50 and drops through $97, the next target would be the $95 range, further weakening the current support structure.
