- Solana price rises 5.5% to $105.22 after crossing the $103.25 cost basis for 39 million SOL.
- SOL faces resistance at $123 and $132, where holders acquired about 20 million tokens at each level.
- Solana’s first rent reduction phase lets users reclaim excess SOL held above new account minimums.
Solana price climbed 5.5% to $105.22 after SOL moved above the $103 resistance zone. On-chain data places the cost basis near $103.25 for 39 million tokens. Analysts now track $123 and $132 as the next supply barriers. The move also follows stronger accumulation metrics and the first phase of Solana’s rent reduction.
Solana price must clear two supply barriers before $150
The $103 area capped the latest rebound, but buyers have pushed SOL above it. Ali Martinez calls $100 the strongest technical and on-chain support. Holding that zone supports the current SOL breakout.
URPD data shows about 20 million tokens changed hands around $123. Another 20 million were purchased near $132. Holders near these cost bases could sell into rallies so that both zones may slow further gains.
Javon Marks cites a completed cup-and-handle breakout and projects $500 or more. That target requires gains exceeding 350% and a move beyond prior highs.
The RSI stands at 59.25, while the MACD histogram holds above zero at 5.56. Solana price must hold $100 to $103 to keep the $150 setup intact.
Whale demand and lower rent costs add support for SOL
Wallets holding at least 10,000 SOL increased 1.58% during the past week. Exchange-held supply fell 4.91% during the same period, leaving fewer tokens readily available for sale.
Solana price also gains support from spot ETF inflows averaging 43,000 SOL on September 3, according to CoinGlass. One session cannot establish a longer trend.
Meanwhile, the first SIMD-0437 phase lowered the storage bond rate from 6,960 to 6,333 lamports per byte. It starts a five-step plan targeting a 90% reduction.
Eligible account owners can reclaim excess lamports without closing their token accounts. Therefore, the process releases existing deposits rather than distributing newly created SOL.
SolanaFloor estimates that up to 3.06 million SOL could eventually become reclaimable, valued at nearly $319 million. The released tokens could stay held, enter staking or reach exchanges. Solana’s price direction will depend partly on those choices and continued support near $100.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
