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Solana (SOL) is trading at $76.91 as of August 10, 2026, after climbing back above the $76 level and pressing against the descending resistance line of a multi-month symmetrical triangle. The move has renewed focus on the broader $98–$100 region, with traders watching whether the breakout attempt can hold.
SOL Price Action: Breaking the Descending Trendline
SOL has been consolidating within a tightening symmetrical triangle for several weeks. The recent push above $76 marks the first sustained attempt to breach the pattern’s upper boundary since late July. The $77–$78 area now serves as the immediate technical hurdle, and a daily close above this zone would confirm the breakout.
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Derivatives data supports the bullish case. Open interest has begun to rise alongside the price recovery, indicating new positions are entering the market as SOL approaches the triangle’s upper boundary. The funding rate has also turned positive, currently around 0.0084%, suggesting that long positioning has gained an edge over shorts.
This combination of rising open interest and positive funding is often seen as a sign of conviction behind a move. However, traders should note that a failure to hold above $74–$74.20, particularly if open interest continues to climb, could signal that new positions are building against the breakout and increase downside pressure.
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Key Levels to Watch for the $100 Push
The immediate resistance levels are well-defined from the recent price action:
- Resistance 1: $84.00 – the first major upside objective
- Resistance 2: $97.65 – the lower bound of the larger target zone
- Resistance 3: $98.98 – mid-point of the target zone
- Target: $100.11 – the upper bound of the key resistance area
On the downside, support sits at $76.00–$77.00, with a more critical level at $74.02–$74.19. The major support remains at $59.80, a level that has held since the June correction.
Can SOL Reach $100? What the Next Week Holds
For the coming week, the realistic first upside objective is around $84, representing roughly 9% upside from the current $76.91 level. If buying pressure remains strong and SOL clears that hurdle, the $90–$95 region could become the next target before the token tests the major $97.65–$100.11 resistance area.
Reaching $100 would represent approximately 30% upside from current levels, but that move would likely require a sustained breakout rather than a brief spike. The broader market context will also play a role — Bitcoin’s stability and overall risk appetite in the crypto market will influence whether SOL can sustain its momentum.
Solana’s recent network activity has also been a factor in its price recovery. The blockchain has continued to process a high volume of transactions, and developer activity remains reliable, which has helped maintain investor interest even during the consolidation phase.
Traders should watch the $77–$78 level closely in the coming sessions. A daily close above this area would confirm the breakout and likely attract additional buying. Conversely, a rejection at this level, combined with a drop below $74, would suggest the triangle pattern is still in play and that the $100 target may be delayed.
As with any technical setup, the broader market conditions and macroeconomic factors can override chart patterns. The coming week will be important in determining whether Solana’s breakout attempt has the momentum to carry it toward the psychologically significant $100 mark.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and uncertain. Always conduct your own research before making investment decisions.
Source: Coinpedia
