Solana traded above $100 after enduring several sessions of selling pressure, with renewed buying activity helping to defend this key support. Over the last week, buyers consistently stepped
Solana traded above $100 after enduring several sessions of selling pressure, with renewed buying activity helping to defend this key support. Over the last week, buyers consistently stepped in whenever prices dipped near the $100 threshold, as reflected by long lower wicks on daily candlesticks.
Despite a 1.6% decline in the past 24 hours, Solana’s price held above the $103 mark. Trading volume increased by 1.18%, pointing to higher market participation, though it remains unclear whether buyers or sellers will gain the upper hand in the coming sessions.
On the institutional side, investor sentiment remained cautious. Data from SoSoValue indicated that Solana-linked exchange-traded funds (ETFs) saw 11 consecutive days of net outflows, with more than $60 million withdrawn in October. This marks a sharp reversal from September, when ETF products recorded inflows totaling approximately $272 million.
Month Net ETF Flow September +$272 million October (to date) -$60 millionThis divergence creates a mixed backdrop for Solana. While spot buyers continue to absorb selling near $100, ETF investors are steadily reducing their exposure. Analysts have noted that a return of positive fund flows could reinforce a more sustained recovery in the future.
Looking ahead, the Solana network is preparing for the Alpenglow upgrade, set for mainnet activation at Epoch 1064 on October 21. The upgrade, currently in testing on Solana’s testnet and devnet, is designed to drastically cut finality times from roughly 13 seconds to around 150 milliseconds.
Shorter finality means users will see their transactions become irreversible much faster, rather than simply improving submission speeds. This enhancement is expected to attract greater interest and activity on the network. However, market observers cautioned that successful deployment does not necessarily guarantee an immediate price rally.
Mini dictionary: Alpenglow upgrade, an upcoming Solana network improvement, seeks to reduce transaction finality times to approximately 150 milliseconds, making transfers irreversible much more quickly and enhancing network efficiency.
For Solana to confirm a bullish reversal, it must break above resistance in the $107–$108 range, an area where several past rallies have stalled. If this barrier is crossed, the next level in focus is $114, considered essential for invalidating the current bearish structure. Sustained price action above $114 could potentially pave the way for a move toward $120.
Until then, maintaining support at $100 signals price stabilization, but not a definitive upward trend. Technical analysis shows that the Relative Strength Index (RSI) on the daily chart remains below 40, reflecting weak momentum. A rise in the RSI would offer stronger evidence of improving buying pressure.
Traders expect that if the Alpenglow upgrade is completed successfully and Solana breaks above these resistance levels, the price could reach $150 in the coming weeks. This outlook depends on continued support at $100, overcoming resistance, and ongoing demand.
With a light economic calendar giving traders a chance to focus on network developments and price action, attention remains fixed on whether Solana can translate repeated buying interest at $100 into a sustained advance above key resistance levels. Broader market risks, however, continue to shape overall sentiment.
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