Solana holds above $100 on August 31. The token trades near $102.50 after retreating from a weekly high of $110.04.
The daily and 4-hour charts show the broader August breakout remains intact. SOL remains above the psychological $100 level.
Why Solana holds above $100 after $110 retreat
SOL opened August 25 at $98.56. It rose to an intraday high of $110.04 on August 27. This produced an 11.6% advance in less than three days.
The price subsequently pulled back to around $102.50. This reduced the weekly gain to roughly 4.2%.
The retreat followed a much larger recovery from early-August. SOL traded near $71 at that low. From that level to the weekly peak, SOL gained approximately 55%. This left the token vulnerable to profit-taking as traders approached month-end.
The daily chart shows the rally pushed price above the upper Bollinger Band. Sellers emerged near $110. The token remained above the indicator’s middle band at $90.36. The upper band stands at $114.36. The lower band sits at $66.36.
A move beyond the upper band often reflects strong momentum. It can also indicate overextension. SOL’s return inside the band points to cooling momentum. This does not confirm a broader bearish reversal.
The daily RSI supports that reading. It reached overbought territory during the rally. It had fallen to 68.43 by August 31. Its moving average remained higher at 77.14. This shows momentum easing after the rapid advance.
The $100 level is Solana’s immediate technical test
The 4-hour chart places Supertrend support at $100.95. This is just below the market price. SOL has remained above the indicator since its breakout from the mid-$70 range. The Supertrend continues to signal an upward short-term structure.
This leaves the $100–$101 area as the first line of defense. A sustained close below that range would weaken the setup. It could send the price toward $97.50. The previous breakout region between $92 and $95 would follow.
Selling pressure has started to appear in the Chaikin Money Flow indicator. 4-hour CMF stood at minus 0.49. This shows capital flow shifted slightly negative as SOL retreated from $110.
The reading is not deeply bearish. It indicates buyers have yet to regain breakout strength nevertheless. A CMF recovery above zero would provide firmer evidence. SOL holding over $100.95 would also help.
On the upside, initial resistance lies between $104 and $105. Several recent rebounds stalled there. Clearing that area would expose $107.50. The August 27 high at $110.04 would follow. A daily close above $110 could bring the upper Bollinger Band near $114.36 into focus.
Liquidation map puts SOL between two leverage zones
CoinGlass’ 24-hour liquidation heatmap shows Solana between concentrated leverage levels. The strongest nearby downside cluster appears around $100.50–$101. A drop into that zone could trigger leveraged-long liquidations. This could accelerate a break below the 4-hour Supertrend support.
Additional liquidity is visible below $100. This is particularly around $99 and $97.50. Those levels could become relevant if sellers force a decisive loss of $100.
Above the market, liquidation concentrations appear near $104–$105. Larger clusters sit around $107.50–$108. A rebound through those areas could force short positions to close. This would add momentum to another attempt at $110.
The heatmap does not predict which side will be reached first. It identifies areas where leveraged positions are concentrated. Price volatility may increase if SOL moves into either cluster.
Analyst sees a larger Solana breakout forming
Analyst Gerla said on August 31 that Solana had broken a downtrend. The trend had lasted for roughly one year. The token is beginning to establish a higher-low structure.
“If this reaccumulation holds, I’m watching the $100 area first, then $300+ as the next major expansion zone.”
The chart treats $100 as the base of a longer-term recovery. The $300 target remains speculative. It sits far above the levels shown by current daily indicators. Before such a scenario becomes relevant, SOL would need to reclaim $110 and break the daily upper Bollinger Band near $114. It would also need to overcome several resistance zones.
Short-term decision range
For the short term, the charts present a narrower decision range. Holding $100.95 would preserve the 4-hour Supertrend signal. It would keep $105, $107.50, and $110 in play. Losing $100 on strong selling pressure would invalidate the bullish setup. This would raise the risk of a deeper retracement toward $97.50 or $92–$95.
US traders may also watch demand through US-listed Solana investment products. Federal crypto market-structure legislation is also a factor. Nevertheless, the next directional move will likely depend on spot buyers defending $100 first. Leveraged positions are unwinding around the monthly close.
