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Solana ($SOL) has broken above the $103 resistance line, trading at $105.22, having gained 5.5% in the day. This marks a major development in terms of the UTXO Realized Price Distribution (URPD) chart. $103.25 was the price at which 39 million $SOL were exchanged, making it a massive threshold to cross in the attempt to establish strong bullish momentum.
Solana faces two barriers to attain $150
Now, according to the same chart, the next overhead resistance lies at $123 and thereafter $132. Both these prices saw about 20 million $SOL acquired and are therefore significant barriers to overcome.
After that, the next major supply zone would be near $150, a price last achieved in mid-November 2025.
Source: Ali Charts
Other than upward market movement and positive sentiment, the recent rally has also been supported by several accumulation metrics.
The number of wallets holding at least 10,000 $SOL (whales) has increased by 1.58% in the past week. Additionally, the number of $SOL on exchanges has declined by 4.91% in the same period. This signals a shift to self-custody wallets or decentralized staking, effectively reducing the overall sell-side pressure.
Even more, Solana spot ETF flows turned positive on September 3, averaging 43,000 $SOL in inflows.
Source: CoinGlass
The outlook
At 59.25, the Relative Strength Indicator (RSI) shows $SOL is in a neutral-to-bullish territory. Buyers have a slightly larger monopoly at the moment.
Meanwhile, the Moving Average Convergence Divergence (MACD) histogram remains above zero at 5.56, confirming the buildup of upward acceleration.
Source: TradingView
At this pace, Solana could be primed for $150 should it break above the two ceilings noted and maintain positive whale and institutional uptake.