Solana (SOL) Price: $348M Flood Into RWA as Traders Watch for Breakout Above $110
TLDR
- SOL is trading around $103 after reclaiming key support near $98
- $110 is the next major resistance level traders are watching
- A deeper support zone sits between $90.46 and $94.83
- Solana led all blockchain networks with $348 million in RWA net inflows over 30 days
- Total distributed RWA value on Solana reached $4.23 billion with 398,644 holder addresses
Solana is trading near $103 after bouncing back above the $98 level that had previously acted as resistance. That recovery has kept the short-term bullish setup alive, but analysts say the move is still part of a corrective phase rather than a new uptrend.
Analyst More Crypto Online describes the current price action as an Elliott Wave 4 correction. The structure shows a series of overlapping three-wave moves, which typically signal consolidation rather than a clean directional push. SOL could still move above the September 3 high as part of a B-wave rebound before a C-wave decline completes the pattern.
Fibonacci support levels cluster tightly beneath the current price at $102.50, $101.51, $100.53, and $99.14. These give traders clear levels to watch.
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