Solana is trading near $105 after a week of conflicting technical signals, with longer-term bulls pointing to a weekly trendline breakout and derivatives activity, while short-term sellers have repeatedly defended the $107 resistance zone. According to CoinMarketCap, SOL was at $105.56 at one point, up about 0.8% over 24 hours, though crypto.news data showed a 1.4% daily decline to $104.97 on Sept. 7 after a session high of $106.80.
On the weekly chart, trader Don highlighted a breakout above a falling trendline from the 2025 highs, describing the asset as wanting $170. That level is roughly 61% above current price and ahead of a longer-term resistance near $280. The weekly relative strength index has climbed to about 60, above neutral but below overbought. The bullish structure remains valid while SOL holds above the broken descending resistance and a rising multiyear support line.
Derivatives data from CoinGlass shows dense liquidation liquidity around $145–$150, followed by areas near $180–$200 and $240–$250. Downside liquidity is notable around $60–$70. Open interest has risen back toward $6 billion–$7 billion after sitting near $4 billion–$5 billion, although it remains far below the prior peak near $17 billion. Rising open interest alongside price can signal fresh participation but does not confirm direction because it includes both longs and shorts.
On the 4-hour chart, SOL remains above its 20-, 50-, 100- and 200-period moving averages at $103.93, $102.98, $101.26 and $89.21. However, Chaikin Money Flow dropped to -0.15, indicating increased selling pressure and weak spot-market support. Liquidation clusters are centered near $108 on the upside and $103–$104 on the downside, with additional support around $102.50. A decisive break below $104 could trigger long liquidations toward the moving-average zone, while a sustained move above $110 would create a higher high and support an extension toward $115.
Analyst Wayne Liang noted his indicator gave a buy signal near $75 and a sell signal around $109 after a 45% rally, suggesting another buy signal may be approaching. External risk remains from Federal Reserve policy expectations, as higher-for-longer interest rates generally reduce demand for high-beta crypto assets. In the short term, $103–$104 is the main support zone, while $107–$108 remains the first barrier.
