- Solana remains above $208 above the $206 support zone, signaling buyers are still active.
- MACD and RSI, reflect upward momentum,supporting the potential breakout to $220–$225.
- Solana’s market cap rebounded nearly 9%,from $105B to $114.5B
Solana (SOL) is heating up again, jumping to $212.08 with a solid 4.32% daily gain. With buyers defending the $206 support zone, traders are now watching closely as SOL sets its sights on the $225 mark.
Key Technical Levels Remain Intact
Solana’s 1-hour chart on Binance reveals a breakout followed by a slight pullback. The $206 mark, once a strong resistance, is now acting as support. Analysts at Ali Martinez mentioned that as long as the price stays above this level, the trend remains bullish. After touching a session high of $208.84, SOL is now consolidating around $208.25.
A projected path outlines two possible moves: a direct rally toward $216–$218 or a short dip to $206 before rebounding. The breakout above the $204 zone confirmed growing buying pressure, even as some selling emerged with high candle wicks.
In a broader view, IncomeSharks shared the daily chart of SOL/USD from Coinbase, showing a rising wedge pattern. This structure, common after long uptrends, may indicate weakening strength. If the price breaks below $208–$210, it could slide toward $180–$185.
Indicators Suggest Momentum but Call for Caution
The MACD has made a bullish crossover, and a green histogram reflects growing positive momentum.RSI is now at 63.51, close to the overbought zone. This signals strong buying, but also the chance of slowing.
Trading volume remains stable, showing steady activity. A strong move past $215–$217, along with increased volume, may lead to a push toward $220–$225.Looking at the 4-hour chart for SOL/USDT on Binance, technical signals continue to
Market Capitalization Recovers After Midweek Decline
Solana’s market cap saw sharp moves through the week. On August 28, it was near $114 billion but dropped below $107.5 billion by August 30. That decline was followed by a recovery starting late on September 1.
By September 3, market cap climbed above $114.5 billion, posting a 9% recovery. This bounce reflects stronger interest and capital return. Data from SolanaFloor shows $77 million in network revenue during August and rising inflows into the $SSK staking ETF, now totaling $219 million.
