Solana (SOL) has managed to stay above $100 despite the strong selling seen throughout most of last week, as the market heads toward a data-light period.
This week, only a handful of relevant economic data points will be reported, potentially setting the stage for a recovery as SOL has entered the midpoint of a “hot” buy zone we identified weeks ago.
The token has experienced a mild 0.8% gain during today’s session ahead of the opening bell in New York, while trading volumes rose by 48% after a busy weekend.
From Wednesday to Sunday, there were multiple attempts to break below the $100 level. However, all of them were met with strong buying, confirming the technical relevance of this price zone.
However, exchange-traded funds (ETFs) linked to Solana have booked a 10-day streak of net outflows according to data from SoSo Value.
In total, nearly $55 million has been withdrawn from these vehicles in October, breaking a three-month uptrend and reversing course when compared to the $272 million that these vehicles brought in a month ago.
Solana’s Alpenglow Upgrade Will Go Live This Week
One potential tailwind that could lift the price of Solana (SOL) this week would be the activation of the Alpenglow upgrade on the blockchain’s mainnet.
According to the project’s official website, Alpenglow should go live on October 21 on Epoch 1064. This upgrade is already being tested on the network’s testnet and devnet and, thus far, the results have been satisfying.
The most relevant change that this technical overhaul will introduce will be a reduction of transaction settlement speeds from around 13 seconds to just 150ms.
Technical upgrades of this magnitude have previously catapulted other tokens, as it happened with the Pectra upgrade for Ethereum (ETH) in April 2025. Hence, this massive buying at $100 could be caused by a bullish accumulation pattern ahead of the implementation of Alpenglow.
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See all Solana forecastsSOL Could Be Eyeing an Explosive Move to $150
Turning to the daily chart, we can see that SOL entered a “hot” buy zone we identified a few weeks ago in a previous price prediction article.
The lower wicks that we can see in the daily candles of the last four sessions indicate heavy buying at $100, confirming strong activity at this price zone.
The price needs to overcome the $114 barrier to reverse and invalidate its bearish price structure and keep pushing toward the first target at $120.
However, we believe that the successful implementation of Alpenglow could provide a strong enough tailwind to lift the price to $150 in the next few weeks.
The Relative Strength Index (RSI) shows that momentum is on the bearish side, as the oscillator dropped below 40. Hence, we need this technical indicator to rise above the signal line to confirm that the price action is reversing course.
This week’s data-light calendar may give the market the necessary breathing room to organically retest key price zones. If the buying power we have seen at $100 is strong enough, it could break past the sell wall that SOL has encountered recently at around $107 – $108.
