Solana Price Rally Is Not Over Yet; Here’s Why

TLDR:

• SOL trades near $106.5 after a 3.1% daily rise, while resistance remains close to the recent $110 high.
• Transaction V1 goes live Sept. 9, lifting Solana’s maximum transaction size from 1,232 to 4,096 bytes.
• Liquidity clusters around $115-$120, while a larger pool remains near $145-$150 on the current heatmap.
• Market analysts say $90.46-$94.83 support keeps a later wave 5 advance possible after wave 4 ends.

Solana is trading near $106.50 after gaining about 3.1% over the past 24 hours. Price has recovered from the latest pullback and remains close to the recent $110 rejection area. The rebound comes before Solana’s Transaction V1 mainnet launch on September 9.

The upgrade expands transaction capacity and supports larger cryptographic workloads. Solana”s price has also gained about 2.6% over the past seven days. The recent recovery followed a sharp advance from the $75-$80 region during August.

As of press time, technical data shows liquidity building above the current market price. The nearest cluster sits around $115 to $120, while a larger pool remains near $145.

Solana Transaction V1 Arrives as Price Recovers

Transaction V1 raises Solana’s maximum serialized transaction size from 1,232 bytes to 4,096 bytes. That change gives developers about 3.3 times more transaction space. The larger format can support ZK proofs, BLS signatures, large multisig setups, and confidential transfers.

Some workloads can therefore fit inside one atomic transaction. Solana Foundation guidance says legacy and v0 transaction formats will remain supported. Developers only need V1 when they require the larger transaction size.

Source: X

Address lookup tables are removed for the V1 format because 64 accounts can fit directly inside a transaction. Existing formats can still use their current structure.

Testnet activation began September 1, giving developers time to test compatibility before the mainnet release. Infrastructure providers also need compatible software to read V1 transactions correctly.

RPC clients, indexers, and data pipelines may otherwise return errors. QuickNode says supported applications must recognize transaction version 1 when reading blocks and transactions. Developers may also need newer SDK versions.

$115-$120 Becomes the First Solana Liquidity Zone

The liquidation heatmap shows the nearest major liquidity concentration between roughly $115 and $120. That area sits above Solana’s recent $110 rejection. A continued recovery could bring the price closer to that cluster.

The heatmap does not guarantee a move, but it shows where leveraged positions remain concentrated. Solana recently advanced from the $75-$80 region before reaching the current $106 area.

The move has reduced the distance to the first overhead liquidity band. However, a failure to hold above $100 would weaken the short-term recovery. Price could then return toward recent breakout levels before another attempt higher.

$145-$150 Remains a Larger Upside Liquidity Pool

The heatmap also shows a larger liquidity concentration around $145 to $150. That band has remained visible above the current market price. A move toward that area would first require Solana to clear the $115-$120 cluster.

Source: X

Price would also need to hold above nearby resistance after any breakout. The $145 region previously acted as resistance on the displayed chart. That makes the zone relevant beyond the liquidation data alone.

Markets can move toward areas containing concentrated leveraged positions, although liquidation maps do not provide fixed price targets. Other market conditions can change the path.

Wave 4 Structure Keeps $90.46-$94.83 in Focus

More Crypto Online says the Solana price remains inside a corrective wave 4 structure after rejection near $110. However, the recent SOL price action has formed overlapping three-wave moves.

The analyst said the current bounce could move above the September 3 high as a B-wave. Another C-wave decline could then complete wave 4.

Support between $90.46 and $94.83 remains central to that setup. Holding the zone would keep a later wave 5 advance possible. A break below $90.46 would weaken the displayed bullish structure and point toward a deeper correction.

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