Solana (SOL) is trading near $76.84, gaining 0.69% over the past 24 hours amid a relatively calm market. Technical signals and anticipation of an upcoming network upgrade are supporting bullish sentiment, while the nearest target is the $78–$78.70 zone, which will determine the next momentum move.
According to analyst Ali Charts, a parallel channel pattern has formed on SOL’s daily chart, with the midpoint of the range landing right at $78. Prices are currently just 1.5% below that level, and a daily close above this resistance would open the way to the upper boundary of the channel near $100. Additional positive signals are coming from the Tom DeMark Sequential indicator, which has signaled a possible rise over 1–4 candles, as well as the “golden crossover” of the MACD moving averages.
On the weekly timeframe, $84 remains the key level. A breakout above it would strengthen the bullish scenario and make targets of $97–$100 more realistic. Another analyst, Scient, is focusing on the 12-hour chart, where Solana is attempting to break out of a month-long consolidation. The first confirmation of buyer strength would be holding the $77 level. Support lies in the $72–$73 zone, and losing it would send the asset back into a range.
From a fundamental perspective, the network upgrade scheduled for the week of August 17 will reduce block time from 400 to 350 ms, while governance proposal SIMD-0553 could increase daily SOL burns. A CoinShares and Token Terminal report named Solana the leading blockchain outside Ethereum by spot activity in tokenized real-world assets. Institutional investor interest is also growing: according to Wintermute, in the first half of 2026, institutional investors’ OTC flow accounted for 72% of trades, compared with 59% a year earlier, creating a long-term tailwind for major coins such as SOL.
If $97 breaks, the $100 target becomes a natural stopping point before the next resistance near $116. The long-term weekly chart presented by analyst Rod allows for an extension to the $176 and $210 levels on the Fibonacci grid if SOL establishes itself above $90–$100. However, until the price clears the $78 and $84 thresholds, the scenario remains unconfirmed; a return below $69 would bring selling pressure back.$SOL