Solana News Today: Solana Gains Momentum as Retail and Smart Money Build Positions

Solana is experiencing a surge in on-chain activity and investor interest, with technical indicators pointing to further upside potential. Despite a 5% dip during Thursday trading, which many analysts attribute to a shakeout of weak hands rather than a bearish shift, the broader trend remains bullish. Retail demand is accelerating, evidenced by a 51% increase in new Solana addresses since August 3, according to Glassnode data [1]. This uptick in retail participation signals growing confidence in Solana as a key play amid a wave of fresh liquidity [2].

Smart money is also showing strong interest, with the number of wallets holding over 10,000 SOL reaching a record high of 5,224, reflecting broader accumulation beyond speculative short-term traders [3]. The confluence of retail and institutional demand suggests that the market is preparing for a meaningful move higher.

From a technical perspective, the daily RSI remains well below the overbought threshold of 70, indicating that the current rally has room to extend [4]. The indicator has cooled to 60, which analysts view as a stronger floor for further upward momentum. Similarly, the MACD continues to widen above the signal line, reinforcing the bullish trend [5]. The key resistance level is currently at $207, the upper boundary of an ascending triangle pattern that has been forming since mid-April. A successful breakout above this level could set the stage for Solana to reclaim its all-time high of $300 and potentially reach $500 [6].

While the $500 target within two weeks is considered ambitious, many analysts argue it is not entirely out of reach given the current market dynamics. The upcoming interest rate decision, expected in late September, remains a critical catalyst. If the Fed proceeds with rate cuts, it could further fuel risk-on sentiment and drive additional demand for assets like Solana [7].

Moreover, pending regulatory developments, such as the delayed decision on the Bitwise and 21Shares Solana ETFs now due by October 16, 2025, could introduce new institutional liquidity into the market [8]. If approved, these ETFs could significantly boost demand and institutional adoption, potentially accelerating the path to $500.

The broader altcoin ecosystem is also showing signs of momentum, with several low-cap tokens within the Solana network posting significant gains in recent weeks. While Solana remains the primary focus, the surge in retail activity is creating a broader ripple effect across its ecosystem [9].

Source: [1] Glassnode

[2] Cryptonews

[3] Twitter/X post by ali_charts

[4] TradingView, Binance

[5] Cryptonews

[6] Cryptonews

[7] Polymarket, Fedwatch

[8] Cointelegraph

[9] Cryptonews