Transaction V1 upgrade lifts Solana price toward $103.32 resistance

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Solana jumps 2.53% today to $99.65

Highlights

Solana’s Transaction V1 upgrade allows transactions up to 4,096 bytes, enabling advanced privacy, DeFi, and multisignature applications.
SOL is now accepted as margin collateral on PhoenixTrade and the network has sustained nearly 30 months of uninterrupted operation since February 2024.
SOL trades in a bullish technical posture with intraday overbought signals and an expected range of $97.42 to $103.32 over the next 2 to 3 days.

Developer demand accelerates as technical upgrade and stability bolster confidence

Solana’s Transaction V1 upgrade, activated on September 15, 2026, has expanded its maximum transaction size to 4,096 bytes, unlocking more advanced privacy, DeFi, and multisignature use cases, according to Finance Yahoo. This technical leap amplifies utility for developers and platforms, fueling on-chain activity and supporting stronger overall demand for SOL. Additional momentum comes from SOL being accepted as collateral for margin trading on PhoenixTrade, as reported by Coinfomania, while nearly 30 months of uninterrupted network operation since February 2024, despite an infrastructure issue in August 2026, continues to build confidence in Solana’s reliability among users and institutions.

Overbought signals emerge amid mixed momentum and key supports

On the hourly chart, SOL trades above the MA-20 at $98.23 and MA-50 at $98.53, while the daily MA-200 at $83.36 remains well below current levels. The Ichimoku Kijun sits at $98.1, establishing a key support area. Momentum is mixed: MACD signals Buy and ADX registers Neutral, suggesting moderate but not strongly directional momentum. RSI at 61.24, Stoch RSI, CCI, and Bull/Bear Power all indicate overbought conditions, with the Awesome Oscillator reinforcing current upward momentum and highlighting dominant intraday buying.

Upside favored as range-bound action persists with breakout risk

In the near term, SOL is projected to trade within a $97.42 to $103.32 volatility band relative to current levels over the next two to three trading days. The probability slightly favors an upward move at 52%, with baseline expectations for price to consolidate sideways in this range. Should buying accelerate and break through resistance, further gains could follow, while a drop below immediate support would risk a reversal and initiate downside momentum.

Anton Kharitonov, expert at Traders Union, notes that Solana’s recent upgrades support network growth, but the technical setup shows only moderate momentum and overbought signals. He sees the asset as fundamentally improved, with strong reliability, yet trading conditions suggest limited upside in the immediate term. Consolidation near $99.65 is probable, barring fresh buying interest. "Base case is sideways action; until resistance breaks, I remain cautious on further upside for SOL."

Earlier, analysts noted that Solana's long-term adoption depends not only on transaction speed and fees, but also on the sustained development of practical, high-usage applications across payments and digital services. The recent Transaction V1 upgrade and expanded institutional use add new catalysts for network activity, making a decisive breakout above the $103.32 level a key signal for further upside momentum.

Source of Data: SOL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.