Solana Breaks Out to $117 as Network Activity Surges
Solana (SOL)
Editor:
Eugene Serbin
Tronweekly.com reports that Solana (SOL) has reached a key technical target after breaking out of a trend pattern and moving toward the $117 mark. Crypto analyst Bitcoin Meraklisi noted that the token achieved a 58% gain on the breakout, followed by an additional 18% gain from the retest. The analyst identified $117 as the third target, marking a milestone for traders who followed the setup.
Attention now shifts to whether SOL can establish sustained support above this level rather than treating the move as short-term. If SOL breaks above and holds $117 as support, further progress toward $141 and $176 is possible. A clear breakout above this level would support the bullish scenario, while a breakdown could lead to consolidation.
Derivatives data from Coinglass shows SOL trade volume rose 73.61% to $12.95 billion, with open interest increasing 8.17% to $7.2 billion. This concurrent rise indicates increased activity among traders holding larger positions, which may magnify price action. Institutional accumulation also boosted the narrative, with DeFi Dev Corp. increasing its SOL treasury by 4.24% in a week.
The corporation purchased 101,381 SOL, bringing its total balance to approximately 2.49 million SOL and equivalents. Additionally, Solana has dominated Layer-1 and Layer-2 DEX volume for 21 consecutive weeks, according to SolanaFloor.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 22 September 2026. Not the outlet's figures.
Solana is trading at $118.90, sitting just above the key $117 resistance level. Buy ratios have shifted from a balanced 48.9% over the last hour to a more bullish 52.5% over four hours, and 54.4% over the last day. This upward trend in buy ratios suggests that buying pressure is building rather than fading. The volume delta reflects this shift, moving from a net outflow of $346,534 in the last hour to a net inflow of $3,396,906 over four hours. Over the full 24-hour period, the volume delta stands at a strong positive $46,397,882. This indicates that net buying has outweighed net selling for 17 of the last 24 hours.
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.
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, the average buy ratio was 49.9%, making today’s 24-hour ratio of 54.4% an unusual day for the coin. The current spot volume is 1.92 times the weekly average, signaling significantly higher activity than usual. While the weekly volume delta was $50,515,496, today’s 24-hour delta of $46,397,882 shows that the majority of that weekly buying occurred in the last day. This concentration of volume suggests a decisive move rather than a gradual trend. The price has risen 16.0% over the last eight days, driven by this recent surge in participation.