Solana (SOL) Price Holds Above Key Levels as Volume Builds Near $210

TL;DR

• Solana holds above key EMAs with rising volume, suggesting strong short-term bullish momentum.
• $9.2B in volume clusters near $200–$206, hinting at a possible breakout scenario.
• Alpenglow upgrade reduces finality time, boosting network performance and attracting developer interest.

Price Movement and Technical Levels

Solana (SOL) was trading at $210 at the time of writing, reflecting a 4% increase in the last 24 hours and a 3% rise over the past week. The price action is moving within a tight consolidation range between $200 and $206, showing steady accumulation after recent volatility.

Interestingly, the 4-hour chart indicates a bullish market structure that began forming in early August. According to BitGuru, SOL reversed from a double bottom pattern near $165 and moved upward by over 20%. A subsequent rally added another 14%, pushing the price toward the $210–213 resistance area. SOL is now making its third attempt to move beyond this level.

A noticeable rise in trading volume has been recorded over recent sessions. According to data, Solana’s 24-hour trading volume stands at over $9.2 billion. Analyst Altcoin Sherpa stated,

“This Solana compression is huge. Tons of volume being transacted within this range and I think that we’re going to break up soon.”

The Volume Profile tool shows increased transaction activity around the $200–$206 zone, where price action is clustering. This compression pattern is often viewed as a signal of potential breakout when volume is concentrated in a narrow range.

EMA Support and Short-Term Structure

Solana is trading above all major exponential moving averages (EMAs) on the 4-hour chart. The 200 EMA is positioned at $200, and the 100 EMA at $197.57. These moving averages are acting as dynamic support levels. Shorter-term EMAs (20 and 55) are now converging around $201–$202, which aligns with the current trading range.

$SOL This Solana compression is huge. Tons of volume being transacted within this range and I think that we’re going to break up soon. pic.twitter.com/YJVXRaFplK

— Altcoin Sherpa (@AltcoinSherpa) September 2, 2025

Meanwhile, this tight alignment of moving averages is supporting the theory of price compression. Traders are watching the $206.65 resistance level closely. A clean break above this range could lead to price movement toward $220 or higher.

Network Upgrade and Ecosystem Development

Solana has approved the Alpenglow upgrade. This update is designed to reduce transaction finality from 12.8 seconds to a near-instant speed of 100–150 milliseconds.

Developers describe Alpenglow as the most extensive rewrite in the network’s history. The upgrade is aimed at improving transaction speed and reliability across the Solana blockchain. Validators have begun preparing for the new implementation.