Solana Price Prediction: SOL Targets $120 Above $110
Solana price prediction remains cautiously bullish as SOL holds above the psychologically important $100 level. The token was recently trading near $101–$102 after retreating from its late-August high around $110.
Immediate resistance is located between $104 and $107, with a stronger liquidity zone at $108–$110. A daily close above $110 could support a move towards the $120 breakout target. Analyst Ucan identified $97.70 as key support, while a sustained loss of the $97–$100 area could expose SOL to the low-$90s.
Institutional demand is another factor for the Solana price prediction. US Solana ETFs recorded 11 consecutive days of net inflows in August and had accumulated more than $1 billion in assets, although inflow momentum later slowed. Renewed ETF buying could provide additional demand during an attempted breakout.
On-chain data also shows large Solana wallets, including one address holding about 5.18 million SOL, or roughly 1% of tracked supply. However, many large addresses appear to be staking accounts rather than wallets preparing to sell, reducing the immediate significance of the holdings as exchange liquidity.
For traders, $100 is the key psychological support, $110 is the main breakout trigger, and $120 is the next major upside objective.
Bullish
The market impact is bullish, but the signal is conditional rather than decisive. SOL has recovered above the $100 psychological level and remains above the $97.70–$98 support zone identified by analysts. Holding these levels can encourage dip buyers and improve short-term sentiment.
A daily break above $110 would be the clearest bullish confirmation. It could trigger momentum trading, short covering and a move towards $120, similar to previous crypto rallies in which a major resistance level became support after a clean breakout. ETF inflows could strengthen that move by adding institutional demand.
However, the resistance between $108 and $110 contains significant liquidity, so failed breakouts could lead to volatility or profit-taking. Slowing Solana ETF inflows also weaken the fundamental catalyst, while a drop below $97–$100 would invalidate the near-term bullish structure and expose SOL to the low-$90s.
In the short term, traders are likely to focus on the $100, $110 and $120 levels, with increased liquidation activity around $108–$110. Over the longer term, sustained ETF demand and continued network adoption would support the bullish case, while persistent outflows or broad crypto-market weakness could delay the recovery. Large wallet balances should be monitored, although the prevalence of staking accounts reduces the immediate bearish significance of those holdings.