Solana breaks $103 on governance vote and Schwab expansion
Solana (SOL)
Editor:
Eugene Serbin
tradersunion.com reports that Solana has strengthened its short-term technical structure by holding above $103 following a series of positive developments. The primary catalyst was the SGP-0002 on-chain governance proposal, which received approximately 68.77% support to accelerate disinflation. This measure would double the annual inflation reduction rate from 15% to 30%, potentially cutting issuance by roughly 18.9 million SOL over six years.
Additionally, Charles Schwab announced plans to add direct SOL trading to Schwab Crypto alongside Avalanche and Chainlink in the coming months. These fundamental improvements have shifted the market dynamic, allowing buyers to retain the advantage as long as the price stays above $103. However, the RSI (14) remains in overbought territory, signaling a risk of correction due to short-term overheating after the sharp August advance.
A move back below $103 would significantly increase the probability of a test at the psychological support level of $100. Conversely, reaching the next resistance around $117 would likely require another wave of demand and some cooling in the RSI first.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Solana is currently trading at $109.14, with a 24-hour buy ratio of 53.7% indicating that buyers have dominated the daily volume. In contrast, the 1-hour buy ratio has dropped to 43.8%, suggesting that immediate buying pressure is fading compared to the longer-term trend. The 4-hour buy ratio sits at 51.2%, showing a more balanced but still slightly bullish stance over the intermediate timeframe. Volume Delta reflects this shift, with a negative $2,223,854 in the last hour versus a positive $963,116 over four hours. Volume Delta measures the difference between buy and sell volume, so negative values indicate that sellers are currently outweighing buyers in that specific window. Despite the short-term dip, the 24-hour Volume Delta remains strongly positive at $40,126,001, confirming that net buying has prevailed over the full day.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Twenty-four hours later
What SOL did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, Solana experienced a consistent period of accumulation with net buying occurring on all seven days. The 7-day average buy ratio was 52.5%, which is slightly higher than the current 24-hour ratio of 53.7%, indicating that recent daily activity is broadly consistent with the weekly trend. Spot volume for the 24-hour period was $544,689,099, which is 1.24 times the weekly average volume. This elevated volume, combined with a price change of +24.5% over eight days, highlights that the current trading day is part of an unusually strong upward move. The total Volume Delta for the week reached +$193,216,755, underscoring the sustained institutional and retail interest driving the price higher.