Solana (SOL) is showing renewed bullish momentum as its technical structure improves and buyers regain control for the Solana price. Growing real-world asset adoption and strong network activity further reinforce the blockchain’s expanding ecosystem, while upcoming upgrades could strengthen performance and support broader long-term adoption.
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At the time of writing, SOL is trading at $104.93 with a 24-hour trading volume of $3.45 billion and a market capitalization of $61.51 billion. However, the Solana price has declined by 1.61% over the last 24 hours.
Source: CoinMarketCap
Solana Price Breakout Puts $478 Target Into Focus
The crypto analyst Kripto Uzman revealed that the Solana price could be setting the stage for a major upside move as its weekly chart develops a falling wedge pattern.
The formation typically appears during periods of consolidation, with price creating lower highs and lower lows while the trading range gradually contracts. A breakout above resistance could signal that sellers are losing control and buyers are returning.
Source: Kripto Uzman’s X Post
The technical setup has sparked bullish expectations for a potential move toward $478 if the Solana price successfully escapes the wedge and sustains momentum. However, the target remains a projection rather than a guaranteed outcome.
Traders will likely monitor the breakout level, trading volume, and follow-through closely, as strong confirmation could strengthen the bullish case considerably.
Also Read: Solana (SOL) Breaks Bullish Pattern, Raising Hopes for a Move Toward $500
Bollinger Bands and EMAs Point to Upward Recovery
According to the TradingView chart analysis, SOL displays a strong bullish breakout from a multi-month consolidation around $74–$78.
A sharp late-August momentum surge aggressively pushed the price up to a local high near $111 before mild profit-taking settled it around $104.89. SOL remains in a firm uptrend, trading well above its 20, 50, 100, and 200-day EMAs.
Source: TradingView
Volatility widens, pushing the price up towards the upper Bollinger band. The resistance is located around the top of the Bollinger Band at $111.96, with the 20-Day EMA ($98.44) and the middle band ($99.90) providing primary support levels.
The Solana price above $98 indicates that the trend remains very bullish, while below $91 indicates a potential pullback towards the averages.
Solana RWA Ecosystem Reaches New Milestone
Market watcher Capital Markets pointed out that the Solana RWA marketplace has hit yet another milestone with more than 400,000 holders of RWAs being recorded on the Solana platform.
The figure shows a significant increase in the number of people holding Solana RWAs compared to less than 10,000 people who held them back in January 2025.
Source: Capital Markets’ X Post
This quick growth highlights how increasingly important Solana has become in terms of tokenized finance thanks to the high throughput and comparatively low cost of transactions.
With more people becoming familiar with tokenized treasury securities, stocks, credit, and other asset types, there may be more holders in the future, potentially bringing more assets on-chain as a result.
Solana Hits 5 Billion Transactions in August
The data from Solana Daily further highlighted that Solana recorded over 5 billion transactions in August, an achievement that shows the capability of the blockchain to process huge on-chain transactions.
Solana claims that the monthly number of transactions made through the network is greater than all the others in the blockchain networks put together. This rate amounts to over 100,000 transactions per minute at low costs to the user.
Source: Solana Daily’s X Post
The network might become even faster with the anticipated Alpenglow upgrade, which will be released next month in October.
The update will enable confirmation time of about 400 milliseconds, while at the moment it takes about 12 seconds. This upgrade might help to make Solana even more attractive for the use cases in DeFi, trading, payments, gaming, etc.
What Comes Next for Solana?
The future direction of the Solana price will be contingent upon whether SOL manages to maintain critical support levels and break out of the pattern it is currently in.
Increased volume, increasing adoption of RWA tokens, high activity within the blockchain network, and progress towards Alpenglow could strengthen bullish sentiment. Failure to maintain critical support levels could lead to a bigger retracement.
Also Read: Solana Price Targets $110 as Bulls Test Key Resistance Zone
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
