Solana’s bulls push higher, but is the price rally running too hot?
Like the remainder of the market, Solana’s value rally confirmed little indicators of slowing down after SOL hiked by over 5% in 24 hours to commerce at $106.71 at press time.
The newest push on the charts got here on the again of a key governance vote, one that would cut back future SOL provide. Sustained Spot ETF inflows have additionally been serving to the altcoin’s value motion.
Weekly development leaves room for additional upside
On the weekly chart, SOL has been bullish after consolidating inside the $67–$100 vary. With an RSI of 60.37 on the time of writing, momentum seemed to be robust, with patrons clearly having the benefit with out being pushed too far into the overbought zone.
The MACD was above its Sign line however under zero, suggesting that the broader bullish development was but to be confirmed.
The OBV has been trending flat too, however its latest uptick could also be a constructive signal. Particularly since sustained shopping for strain is required to keep up the weekly uptrend.
Every day momentum stays firmly bullish
SOL broke above the important thing $97.37 resistance stage on twenty fourth August 2026, a stage it hasn’t been in a position to breach since early February 2026. At press time, the bulls had been making an attempt to defend it as help.
The RSI at 81.31 put the every day chart firmly in overbought territory. Nevertheless, as seen on the weekly chart, the broader development nonetheless has room to develop, suggesting the every day overbought circumstances and rally can persist. MACD remained above its Sign and nil strains, reinforcing the bullish development, whereas a slight OBV downturn might sign some near-term cooling.
Bulls retain management within the short-term
The 4-hour chart additionally supported the altcoin’s ongoing bullish rally. The RSI got here out of the overbought zone and had a studying of 68.08, indicating that patrons nonetheless have the benefit.
The MACD was firmly bullish above each its Sign and nil strains, whereas the rising OBV additional confirmed that purchasing strain was supporting the transfer larger.
Remaining abstract
- SOL’s 4-hour chart was firmly bullish, whereas a profitable retest of the $102-level as help might open the door for patrons eager to enter the market.
- Whereas SOL was firmly overbought on the every day chart, the weekly timeframe leaves room for the broader bullish development to proceed.
