Solana enters September facing a series of important resistance levels, continuing the impressive breakout momentum from the indicators in August. The strong growth on-chain, new records in the derivatives sector, and increasing inclusion from institutions into their portfolios vividly illustrate the network's resilience.
According to analysts, the price of Solana is currently approaching technical milestones that could determine the next direction of this cryptocurrency.
Solana price is supported by on-chain strength
August data shows that the Solana ecosystem is expanding at an impressive rate. Revenue from applications reached approximately 148 million USD, nearly double compared to the same period last year, surpassing many competitors and demonstrating the growing appeal of dApps built on this network.
Trading activity also witnessed a leap. The perpetual futures ( linked to SOL recorded a record volume of over 43.8 billion USD. According to experts, this surge reflects deep liquidity along with strong demand for leveraged positions related to Solana.
![])https://img-cdn.gateio.im/webp-social/moments-e8193e8764972611258b24210f01fe29.webp(Source: Solana/XThe growth in revenue alongside record trading volumes indicates that the number of users and organizations participating in the network is continuously expanding. Many opinions suggest that these positive signals will provide support for the price of SOL in the upcoming period.
At the same time, analysts view this as a platform that strengthens market sentiment. When revenue, trading, and volume all rise in sync, investor confidence tends to be naturally reinforced. In this context, demand for SOL continues to be supported, while the price is approaching important resistance levels.
Solana faces resistance from Ichimoku clouds
The weekly chart shows that Solana is approaching the important resistance zone of the Ichimoku Cloud indicator – a technical tool commonly used to identify support and resistance levels based on past price averages.
Maintaining above the 180 USD mark helps preserve the long-term trend structure, but analysts warn that the cloud layer above remains a significant barrier to growth.
At the current time, the weekly RSI index is in the neutral zone, reflecting a balance where neither the bulls nor the bears have gained an advantage. Traders believe that a decisive weekly candle close above the cloud will be a confirmation signal for a stronger bullish trend.
In this scenario, analyst Chad_Ventures predicts that the price of Solana could advance to the 220 USD range, coinciding with the Fibonacci retracement level of 0.786 from the previous decline. However, this breakout scenario will only be truly confirmed if it surpasses and maintains above the clouds of the Ichimoku Cloud indicator.
![])https://img-cdn.gateio.im/webp-social/moments-eb384598c1bdc40580f7f42a58adfbd0.webp(Weekly SOL/USDT Chart | Source: Chad/X## Institutional participation is reinforcing a positive outlook
In addition to technical factors, the increasing recognition from the traditional financial sector continues to reinforce the price outlook of Solana in recent weeks.
Recently, SOL has been added to the flagship cryptocurrency exchange products )ETP( of Bitwise on the SIX Swiss Exchange, alongside Bitcoin and Ethereum. This move not only creates a managed investment channel for investors but also expands the ability to diversify the digital asset portfolio.
Experts believe that this is an important step for Solana in its journey to penetrate deeper into the traditional financial market. Its appearance in regulated products provides funds and institutions that cannot directly trade tokens with more opportunities to access, thereby increasing liquidity and strengthening Solana's market position.
Currently, SOL is trading around the 203 USD mark, with a short-term support zone forming in the range of 200 – 206 USD, coinciding with important horizontal levels on the chart. According to analysts, pullback movements to this area could serve as a solid foundation before Solana challenges higher resistance levels. If a successful breakout occurs, the next short-term target is set at the 217 USD region – the nearest resistance zone identified.
![])https://img-cdn.gateio.im/webp-social/moments-addb265bf7f676538edb7e01618dfaca.webp(Hourly chart of SOL/USDT | Source: Ali/X## Outlook towards important levels
In conclusion, analysts note that Solana is showing a blend of increasingly strong fundamentals and cautious technical signals. August data recorded revenue growth, with derivatives activity hitting a record high, while the level of institutional participation continues to expand. These factors indicate that Solana is not only expanding its user base but also strengthening its position in the market.
Nevertheless, the price of SOL still faces short-term barriers: the cloud of the Ichimoku Cloud indicator and the resistance zone around 217 USD remain key levels that need to be conquered.
Experts emphasize that only when these milestones are clearly surpassed, the upward trend will truly be solidified. Until that time, Solana's upward momentum still depends on whether the recent momentum can be strong enough to overcome the technical challenges.
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Solana hits resistance after the rally in August: What will the next trend be?
Solana enters September facing a series of important resistance levels, continuing the impressive breakout momentum from the indicators in August. The strong growth on-chain, new records in the derivatives sector, and increasing inclusion from institutions into their portfolios vividly illustrate the network's resilience.
According to analysts, the price of Solana is currently approaching technical milestones that could determine the next direction of this cryptocurrency.
Solana price is supported by on-chain strength
August data shows that the Solana ecosystem is expanding at an impressive rate. Revenue from applications reached approximately 148 million USD, nearly double compared to the same period last year, surpassing many competitors and demonstrating the growing appeal of dApps built on this network.
Trading activity also witnessed a leap. The perpetual futures ( linked to SOL recorded a record volume of over 43.8 billion USD. According to experts, this surge reflects deep liquidity along with strong demand for leveraged positions related to Solana.
![])https://img-cdn.gateio.im/webp-social/moments-e8193e8764972611258b24210f01fe29.webp(Source: Solana/XThe growth in revenue alongside record trading volumes indicates that the number of users and organizations participating in the network is continuously expanding. Many opinions suggest that these positive signals will provide support for the price of SOL in the upcoming period.
At the same time, analysts view this as a platform that strengthens market sentiment. When revenue, trading, and volume all rise in sync, investor confidence tends to be naturally reinforced. In this context, demand for SOL continues to be supported, while the price is approaching important resistance levels.
Solana faces resistance from Ichimoku clouds
The weekly chart shows that Solana is approaching the important resistance zone of the Ichimoku Cloud indicator – a technical tool commonly used to identify support and resistance levels based on past price averages.
Maintaining above the 180 USD mark helps preserve the long-term trend structure, but analysts warn that the cloud layer above remains a significant barrier to growth.
At the current time, the weekly RSI index is in the neutral zone, reflecting a balance where neither the bulls nor the bears have gained an advantage. Traders believe that a decisive weekly candle close above the cloud will be a confirmation signal for a stronger bullish trend.
In this scenario, analyst Chad_Ventures predicts that the price of Solana could advance to the 220 USD range, coinciding with the Fibonacci retracement level of 0.786 from the previous decline. However, this breakout scenario will only be truly confirmed if it surpasses and maintains above the clouds of the Ichimoku Cloud indicator.
![])https://img-cdn.gateio.im/webp-social/moments-eb384598c1bdc40580f7f42a58adfbd0.webp(Weekly SOL/USDT Chart | Source: Chad/X## Institutional participation is reinforcing a positive outlook
In addition to technical factors, the increasing recognition from the traditional financial sector continues to reinforce the price outlook of Solana in recent weeks.
Recently, SOL has been added to the flagship cryptocurrency exchange products )ETP( of Bitwise on the SIX Swiss Exchange, alongside Bitcoin and Ethereum. This move not only creates a managed investment channel for investors but also expands the ability to diversify the digital asset portfolio.
Experts believe that this is an important step for Solana in its journey to penetrate deeper into the traditional financial market. Its appearance in regulated products provides funds and institutions that cannot directly trade tokens with more opportunities to access, thereby increasing liquidity and strengthening Solana's market position.
Currently, SOL is trading around the 203 USD mark, with a short-term support zone forming in the range of 200 – 206 USD, coinciding with important horizontal levels on the chart. According to analysts, pullback movements to this area could serve as a solid foundation before Solana challenges higher resistance levels. If a successful breakout occurs, the next short-term target is set at the 217 USD region – the nearest resistance zone identified.
![])https://img-cdn.gateio.im/webp-social/moments-addb265bf7f676538edb7e01618dfaca.webp(Hourly chart of SOL/USDT | Source: Ali/X## Outlook towards important levels
In conclusion, analysts note that Solana is showing a blend of increasingly strong fundamentals and cautious technical signals. August data recorded revenue growth, with derivatives activity hitting a record high, while the level of institutional participation continues to expand. These factors indicate that Solana is not only expanding its user base but also strengthening its position in the market.
Nevertheless, the price of SOL still faces short-term barriers: the cloud of the Ichimoku Cloud indicator and the resistance zone around 217 USD remain key levels that need to be conquered.
Experts emphasize that only when these milestones are clearly surpassed, the upward trend will truly be solidified. Until that time, Solana's upward momentum still depends on whether the recent momentum can be strong enough to overcome the technical challenges.
SN_Nour