Solana (SOL) Surges 3.54% to $224.79 as Technical Indicators Signal Continued Bullish Momentum

Solana (SOL) Surges 3.54% to $224.79 as Technical Indicators Signal Continued Bullish Momentum - Blockchain.News

Quick Take

• SOL currently trading at $224.79 (+3.54% in 24h) • Solana's RSI at 64.35 indicates healthy momentum without being overbought • Alpenglow upgrade reduces transaction finality to 100-150 milliseconds, enhancing network performance • Record 2.9 billion transactions processed in August 2025, matching Ethereum's lifetime total

What's Driving Solana Price Today?

The SOL price surge reflects a combination of technical achievements and market positioning despite recent regulatory uncertainty. Most significantly, Solana's Alpenglow upgrade went live on September 3rd, dramatically reducing transaction finality times from 12.8 seconds to just 100-150 milliseconds. This technical leap brings Web2-level responsiveness with Layer 1 finality, potentially unlocking new use cases that require both speed and cryptographic certainty.

Adding to the bullish narrative, Solana processed an unprecedented 2.9 billion transactions in August 2025, matching Ethereum's entire transaction history since 2015. This milestone demonstrates Solana's superior scalability and growing adoption across decentralized applications.

However, regulatory headwinds persist. The SEC's decision to delay the Solana ETF approval until mid-October initially caused a 2% retreat to $202.36 on September 6th, despite the network reaching three-year highs in Total Value Locked (TVL). The recent price recovery to $224.79 suggests traders are looking beyond short-term regulatory uncertainty toward Solana's fundamental strengths.

Phantom Wallet's announcement of September updates further signals continued ecosystem development, while analysts project potential breakout scenarios above $206.65 that could target the $300 level before year-end.

SOL Technical Analysis: Strong Bullish Signals Emerge

Based on Binance spot market data, Solana technical analysis reveals multiple bullish indicators aligning for continued upward momentum. The SOL price currently trades well above all major moving averages, with the 7-day SMA at $209.75 and the 200-day SMA at $158.66, indicating a robust uptrend across all timeframes.

Solana's RSI reading of 64.35 sits comfortably in the neutral zone, suggesting room for further gains without entering overbought territory. The SOL RSI level indicates healthy momentum that could sustain additional price appreciation.

The MACD configuration strongly supports bullish sentiment, with the main line at 7.4779 well above the signal line at 6.3697. The positive histogram reading of 1.1082 confirms strengthening momentum for Solana's price action.

Bollinger Bands analysis shows SOL trading at 1.1030 times the band width above the middle band, positioning near the upper resistance at $221.46. While this suggests some short-term resistance, the expansion indicates increasing volatility that could facilitate breakout moves.

The Stochastic oscillator readings of %K at 96.10 and %D at 91.39 indicate overbought conditions in the short term, suggesting potential consolidation before the next leg higher.

Solana Price Levels: Key Support and Resistance

Critical Solana support levels provide clear risk management points for traders. The immediate SOL resistance sits at $226.00, representing the 24-hour high and a key breakout level. Sustained movement above this threshold could trigger momentum-driven buying toward the $240-250 range.

On the downside, Solana support levels offer multiple defensive positions. The pivot point at $220.83 serves as immediate support, while stronger backing exists at $177.27. The most significant Solana support levels rest at $155.83, aligning closely with the 200-day moving average zone.

The SOL/USDT pair's 24-hour trading range of $211.69 to $226.00 established key short-term parameters, with the lower bound now serving as near-term support after the successful breakout.

Should You Buy SOL Now? Risk-Reward Analysis

For aggressive traders, the current SOL price setup offers compelling risk-reward dynamics. Entry near current levels with stops below $220.83 provides manageable downside while targeting the $240-250 resistance zone represents attractive upside potential.

Conservative investors might wait for a pullback toward the $210-215 range, where multiple technical support levels converge. This approach offers better entry prices while maintaining exposure to Solana's fundamental improvements.

Swing traders can utilize the Daily ATR of $11.11 to set appropriate position sizes, expecting typical daily moves within this volatility range. The overall "Very Strong Bullish" trend classification supports buy-and-hold strategies for those with longer investment horizons.

Risk management remains crucial given the regulatory overhang from the delayed ETF decision. Setting stops below $200 protects against adverse regulatory developments while allowing participation in the technical breakout scenario.

Conclusion

The SOL price action at $224.79 reflects genuine technical progress overshadowing temporary regulatory setbacks. With Solana's transaction processing capabilities now demonstrated at unprecedented scales and the Alpenglow upgrade delivering Web2-level performance, the fundamental investment thesis strengthens considerably. Traders should monitor the $226.00 resistance level for breakout confirmation, while the broader bullish trend suggests continued upward potential toward analyst targets near $300 before year-end.

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