Solana Scores First Green Candle in Year

Solana ($SOL) has closed its first positive monthly candle in nearly a year, ending a prolonged streak of red months that began after September 2025.

The latest monthly candle closed near $103, according to TradingView data circulating widely on X. The move marks a notable shift after $SOL spent much of the intervening period under heavy selling pressure. The token had fallen from highs above $250 in late 2025 to a cycle low around $60 before the recent recovery.

August delivered strong performance, with $SOL advancing roughly 40–50% during the month and reclaiming the psychologically important $100 level.

In the meantime, a dormant Solana whale has returned to the market after eight months of inactivity, purchasing 76,856 $SOL worth approximately $8 million from Hyperliquid, according to blockchain analytics platform Lookonchain.

The wallet, identified as 6ESYXA, accumulated the large $SOL position after remaining inactive for roughly eight months.

The purchase adds to recent whale activity surrounding $SOL, with large transactions potentially signaling growing interest from deep-pocketed investors. However, the move alone does not indicate whether the whale intends to hold the tokens or deploy them in further trading activity.

Solana is trading at around $102.47, down 1.28% over the past 24 hours. The token has pulled back after recently reclaiming the $100 level.

Bullish momentum?

Recent market data shows $SOL had also advanced 1.15% on Aug. 31 after a 3.54% decline the previous day, pointing to a volatile start to September.

Despite the daily decline, trading activity remains heavily concentrated in derivatives. Solana has recorded roughly $7.82 billion in futures volume over the past 24 hours, compared with about $738.76 million in spot volume.

Open interest stands at approximately $6.64 billion.

The combination of elevated futures activity and the latest price pullback suggests traders are positioning aggressively around $SOL’s current levels, increasing the risk of sharper moves if positions are unwound.

$SOL’s market capitalization currently sits near $59.82 billion.

At roughly $102, the asset is still significantly above its recent August lows, but the latest weakness shows that buyers have yet to establish a decisive move higher.