Solana has managed to stay above the psychologically important $100 level after days of selling pressure, with buyers repeatedly stepping in near that threshold. Daily candles have shown long lower wicks, suggesting that demand is absorbing sell orders even as SOL traded down roughly 1.6% over the latest 24-hour period at around $103. Trading volume rose 1.18%, pointing to increased participation, although volume alone does not reveal whether buyers or sellers will ultimately take control.
ETF flows tell a more cautious story. Data from SoSoValue showed 11 consecutive sessions of net outflows from Solana-linked exchange-traded funds, with more than $60 million withdrawn so far in October. That compares with approximately $272 million in net inflows during September, highlighting a shift in institutional positioning even as spot buyers defend the $100 zone.
The main catalyst on the horizon is the Alpenglow upgrade, scheduled for mainnet activation on October 21 at Epoch 1064. Already tested on Solana’s testnet and devnet, Alpenglow aims to reduce transaction finality from roughly 13 seconds to about 150 milliseconds. Faster finality means transactions become irreversible much sooner, potentially strengthening network utility and developer interest. However, a successful rollout does not guarantee an immediate price rally.
Technically, SOL needs to clear the $107–$108 resistance zone before it can challenge $114, a level seen as key to invalidating the current bearish structure. A decisive move above $114 could open a path toward $120, and some traders have floated an optimistic scenario of $150 in the following weeks if the upgrade succeeds and broader demand improves. For now, the Relative Strength Index remains below 40 on the daily chart, indicating weak momentum. Holding $100 is viewed as stabilization rather than confirmation of a bullish reversal.
