TLDR
- SOL rose ~1.90% to trade near $76.29, breaking out of a falling wedge pattern
- Key resistance sits at $77–$79, with $80 as the next psychological target
- Analysts have mapped upside targets at $82, $98, $114, and $130
- US Solana ETFs recorded zero inflows on August 7, with total assets at $869.97 million
- SOL has formed higher highs and higher lows since the June local bottom
Solana has broken out of a falling wedge pattern that had been forming since early July. At the time of writing, SOL is trading near $76.29, up around 1.90% over the past 24 hours.
The breakout came as SOL pushed above the descending resistance line near $74–$75. Price has now extended toward $76, marking the first clean move outside the pattern in several weeks.
Analyst CryptoJack highlighted the breakout on social media, pointing to price pushing sharply through the resistance line. The move still needs follow-through to be confirmed.
The $77–$79 zone is the next nearby resistance area. A sustained move through that range would bring the early-July highs of $82–$84 back into focus.
Analyst Daan Crypto Trades noted that SOL has been forming higher highs and higher lows since the June local bottom. He said SOL just needs to push a little higher to start the next leg up, but noted the broader market needs to hold up for that to happen.
$SOL Attempting a breakout and break back above the green zone.
We have seen higher highs and higher lows since the June local bottom.
Just needs to push a little higher here and I think this starts the next leg up.
Obviously need the rest of the market to hold up for that. pic.twitter.com/Y5KvKGJ6dG
— Daan Crypto Trades (@DaanCrypto) August 8, 2026
ETF Flows Remain Flat
US spot Solana ETFs recorded zero inflows on August 7, according to SoSoValue. Total assets stood at $869.97 million, representing 2.02% of Solana’s market cap.
Bitwise’s BSOL led the category with $594.45 million in assets. Fidelity’s FSOL held $125.41 million and Grayscale’s GSOL held $96.81 million. All products saw zero daily inflows, though most recorded market price gains above 1.6%.
Analyst Price Targets
Analyst TraderDaink outlined several upside levels if the current base develops into a sustained breakout. The first major target is $82.25, followed by $98.40, $114.55, and $130.70.
Imagine the smell?
Nah I'm good, I don't want to smell shit from dumb bears pic.twitter.com/UgYTAw5ARx
— Daink (@TraderDaink) August 7, 2026
Analyst Gareth Soloway described the move as a classic wedge breakout with upside potential toward $100. He noted the breakout becomes more convincing if SOL stays above $74–$75.
A move to $100 would first require clearing $82–$84 and the $97–$98 resistance zone.
Key Levels to Watch
The RSI sits at 71.14, placing SOL marginally in overbought territory. The MACD line remains above the signal line, consistent with a bullish reading.
Solana needs to hold above $76 to maintain its short-term upward pattern. A drop below $75 would expose the $74 level, with stronger support sitting near $72.
The current breakout structure remains intact as long as SOL holds above the low-$70s.
