- Solana trades near $105 as traders watch the key $106.03 resistance level.
- Strong ecosystem growth supports SOL, but a break below $102.96 could trigger further losses.
Solana (SOL) is trading near $105 after a small daily decline. The price remains below some short-term indicators but continues to hold above important medium- and long-term levels.
The $106.03 resistance level is now drawing attention. A move above this level could strengthen the short-term outlook for SOL. However, a break below $102.96 could expose the price to further losses.
Solana Ecosystem Growth Supports SOL
Solana recorded $143 million in app revenue in August 2026. The figure points to strong activity across the network and growing demand for Solana-based applications.
New payment channels have also helped expand the ecosystem. These developments could support higher transaction activity as more users and applications enter the network.
Solana has also attracted significant real-world asset activity. Net RWA flows reached nearly $348 million over the past 30 days.
The network is also expanding its token support. Arbitrum’s ARB token can now be traded on Solana through Wormhole Native Token Transfers. These developments provide a stronger fundamental backdrop for SOL despite its recent price weakness.
SOL Faces Key Resistance at $106.03
SOL is trading between key technical levels, with $106.03 acting as the main resistance. The price remains below the 20-period moving average on the hourly chart but is still above the 50-period average and the 200-day moving average.
The MACD continues to show buying interest, while the ADX points to a bullish bias. However, the RSI sits at 47.56, and both the Stoch RSI and CCI remain in oversold territory. Bull/Bear Power also shows oversold conditions.
These mixed signals suggest that SOL could remain range-bound in the short term. A break above $106.03 could strengthen the bullish outlook, while a move lower could keep sellers in control.
Solana Price Outlook
SOL is expected to trade between $102.96 and $107.42 over the next two to three trading sessions. The current analysis gives the price a 67% probability of moving higher, compared with a 33% chance of a decline.
A sustained move above $106.03 could strengthen the recovery and allow SOL to test higher resistance levels. However, a break below $102.96 could increase selling pressure and expose the price to further losses.
For now, SOL remains range-bound as traders wait for a clear breakout. Strong ecosystem activity continues to support the broader outlook, but SOL needs to reclaim $106.03 before the bullish case becomes stronger.
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