From 24/7 Wall St. · Sam Daodu · · 1m
Solana Surges to $115 with 20% Monthly Rally
Solana leads major cryptos this month with a 20% rally to $115, driven by Bitcoin’s short squeeze and three key catalysts.
In brief
Solana leads major cryptos this month with a 20% rally to $115, driven by Bitcoin’s short squeeze and three key catalysts. Solana’s price holds $115 if it breaks $119 resistance and launches Alpenglow on Sept 28. Originally reported by 24/7 Wall St..
Solana Rises to $115
Solana trades at $116 after a 20% monthly rally, outperforming Bitcoin and Ethereum this month.
“Solana is trading at $116 after rallying 20% this month, making it the top performer among major cryptocurrencies.”
Bitcoin Short Squeeze Boosts Solana
Bitcoin’s surge to $85,000 triggered a short squeeze, liquidating $262 million in Bitcoin shorts in one hour.
“Bitcoin’s recent push toward $85,000 forced a short squeeze, leading exchanges to liquidate $262 million of short positions in just one hour.”
Three Solana Catalysts
The SEC’s innovation exemption, recent upgrades, and the upcoming Alpenglow launch drive Solana’s momentum.
“SEC’s Innovation Exemption: On September 17, the SEC granted a five-year exemption for venues trading tokenized stocks.”
Alpenglow Launch Date
Solana’s Alpenglow system launches on September 28, aiming to improve transaction finality from 12.8 seconds to 150 milliseconds.
“Solana is set to introduce Alpenglow on September 28, a rewrite of the system that allows validators to agree on blocks.”
Resistance Levels
Solana faces resistance at $119, with support levels at $110, $105, $100, and $94.
“Currently, Solana’s immediate resistance is $119, just 3% above its current price.”
Price Hold Potential
Solana can hold $115 if it breaks $119 resistance and successfully launches Alpenglow on September 28.
“Solana’s ability to hold above $115 hinges on whether it can break through $119 and successfully launch Alpenglow on September 28.”
The big picture
Solana’s price holds $115 if it breaks $119 resistance and launches Alpenglow on Sept 28.
