Solana Eyes $100 as 3 Bullish Signals Align Near $76

Solana traded near $76.86 on Monday, up 3.6% over the past week, holding above its former resistance after breaking out of a falling wedge pattern that had constrained prices since early July. Analyst Ali Martinez set a $100 price target on Sunday, citing three technical signals aligning at once. The move follows new institutional products launched on the network by BlackRock and Western Union, adding a fundamental case alongside the chart setup.

Three Signals Point Toward Breakout

Solana’s TD Sequential indicator, a tool used to identify potential trend reversals, printed a buy signal on its daily chart Sunday, August 9. The reading appeared alongside a MACD golden cross, a pattern that forms when a shorter-term moving average crosses above a longer-term one and typically signals strengthening upward momentum. Martinez identified $78 as the deciding resistance level: a confirmed close above it would open the path toward $100, the upper boundary of the parallel channel SOL has traded within in recent weeks.

Derivatives markets have moved in step. Open interest in SOL futures rose 10% over the past week, according to Coinglass, with most traders holding open positions net long on the asset. The Relative Strength Index sits near 71 on shorter timeframes, close to overbought territory, while daily readings remain neutral, indicating a market still building conviction rather than one already extended.

Trader Pepesso previously flagged the $45 to $60 range as Solana’s key accumulation zone, the same range that preceded the token’s 2023-2024 rally. A retest holding above $45 would still support the bullish structure; a break below it would invalidate the setup. Pepesso identified $100 as the first confirmation point on the upside, with $150 to $200 the next zone in focus once that level clears.

Institutional Activity Reinforces the Case

BlackRock filed with the SEC on August 1 and launched its Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) on August 3, a tokenized money market fund built to serve as reserve backing for stablecoin issuers under the GENIUS Act. The fund invests exclusively in cash, short-term Treasuries, and Treasury-backed repurchase agreements, with ownership recorded across Solana, Ethereum, and Tempo.

Western Union separately introduced Stablecard, a Visa-secured digital wallet and card built around USDPT, a dollar-backed stablecoin issued by Anchorage Digital Bank on Solana. Take-Two Interactive also brought tokenized shares of its stock to the network through Backpack Securities, with each token backed one-to-one by the underlying equity. Solana processed a record 1.01 billion non-vote transactions in a single week, and tokenized equities on the network recorded roughly $1.45 billion in volume in July, giving Solana an estimated 82% share of the global tokenized stock market that month.

Conclusion

Solana’s setup combines technical confirmation with genuine adoption data, a pairing that has preceded sustained rallies in the asset before. The $78 level remains the deciding threshold: a confirmed close above it validates the breakout thesis, while a slip below $75 would put the rally on pause and bring the low-$70s support zone back into focus. With BlackRock, Western Union, and Take-Two all building real infrastructure on the network the same week the technical signals aligned, the case for $100 now rests as much on institutional adoption as on chart patterns.