After a protracted downtrend took Solana (SOL) 38.45% lower in 2026 from $124.48 to $76.62, the cryptocurrency appears poised for a bullish reversal.
Specifically, multiple technical buy signals appear to have converged around SOL by Monday, August 10, that could help the coin reclaim $100 for the first time since February, according to an X post published by the prominent on-chain analyst Ali Martinez on Sunday.
Why Solana might soon soar to $100
To begin with, the expert claims to have identified Solana as trading within a parallel channel with a breakout possible should the cryptocurrency breach $78 – a level roughly in the middle between the nearest resistances at $77.36 and $78.40.
Martinez notes the upsurge as especially likely as TD Sequential – a technical analysis tool designed late in the last century to help identify trend reversals – flashed a buy signal on Sunday, August 9.
The optimistic reading was further strengthened by a simultaneous appearance of a moving average convergence divergence (MACD) golden cross for SOL, leading the blockchain analyst to conclude the coin is likely on its way toward $100.
A golden cross is a chart pattern that shows up when a short-term moving average (MA) – usually the 50-day MA – crosses above a long-term MA – usually the 200-day one – and indicates a shift in trading momentum and a possible turn to a renewed bull market.
Is Solana price about to break out above $78
Meanwhile, Solana has been rallying in recent days and is up 3.59% in the weekly chart from $73.96 to $76.62.
Furthermore, the cryptocurrency has remained decisively above its nearest support at $75.51, with its latest brief plunge taking it no lower than $76.21, though it also failed to breach resistance above $77.41.
Is a network upgrade about to send Solana to $100?
Elsewhere, Solana’s Alpenglow upgrade is likely to provide additional bullish momentum in the short and mid-term, with its implementation scheduled for between August and October, 2026.
In the mid and long-term, the rising sentiment could also be reinforced once the Congressional recess ends in September, as it could bring the long-awaited – and often postponed – CLARITY Act vote.
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