Solana price holds $100 as bulls target $110 retest

Solana price traded near $102.50 on Aug. 31 after retreating from a weekly high of $110.04, but its daily and 4-hour charts show that the broader August breakout remains intact above $100.

Solana price cools after reaching $110

According to data, Solana ( $SOL ) price opened Aug. 25 at $98.56 and rose to an intraday high of $110.04 on Aug. 27, producing an 11.6% advance in less than three days. Its price subsequently pulled back to around $102.50 on Aug. 31, reducing the weekly gain to roughly 4.2%.

The retreat followed a much larger recovery from Solana’s early-August low near $71. From that level to the weekly peak, SOL gained approximately 55%, leaving the token vulnerable to profit-taking as traders approached the end of the month.

Solana’s daily chart shows that the rally pushed the price above the upper Bollinger Band before sellers emerged near $110. The token remained above the indicator’s middle band at $90.36, while the upper and lower bands stood at $114.36 and $66.36, respectively.

A move beyond the upper band often reflects strong momentum, but it can also indicate that price has advanced faster than its recent volatility range. SOL’s return inside the band therefore points to cooling momentum after the breakout rather than confirmation of a broader bearish reversal.

The daily Relative Strength Index supports that reading. RSI reached overbought territory during the rally but had fallen to 68.43 by Aug. 31. Its moving average remained higher at 77.14, showing that momentum was easing after the rapid advance.

The $100 level is Solana’s immediate technical test

Solana’s 4-hour chart places the Supertrend support at $100.95, just below the market price. SOL has remained above the indicator since its breakout from the mid-$70 range, and the Supertrend has continued to signal an upward short-term structure.

The position leaves the $100–$101 area as the first line of defense. A sustained close below that range would weaken the 4-hour setup and could send the price toward $97.50, followed by the previous breakout region between $92 and $95.

Selling pressure has already started to appear in the Chaikin Money Flow indicator. 4-hour CMF stood at minus 0.07, showing that capital flow had shifted slightly negative as SOL retreated from $110.

The reading is not deeply bearish, but it indicates that buyers have yet to regain the strength seen during the breakout. A CMF recovery above zero, combined with SOL holding over $100.95, would provide firmer evidence that the pullback has run its course.

On the upside, initial resistance lies between $104 and $105, where several recent rebounds stalled. Clearing that area would expose $107.50 and the Aug. 27 high at $110.04. A daily close above $110 could then bring the upper Bollinger Band near $114.36 into focus.

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