SOL was trading at $76.93 on August 10, 2026, up nearly 7% from its low of $72.49 three days prior. This increase pushed the price past the upper boundary of the descending channel that had confined the asset’s movement since early July.
The breakout was accompanied by a surge in trading volume. The bull-bear power indicator rose to 1.23, signaling buyers’ dominance in the market. The Supertrend indicator also flipped below the price chart, forming dynamic support at the $75.02 level. Analyst Dami-Defi on X confirmed this technical structure change on August 10. However, the current position is still far from the swing high record of $97 last May and the peak of $145 recorded in January. On the momentum indicator side, the Awesome Oscillator remains in negative territory at -0.46, but the narrowing red bars indicate that selling pressure is beginning to ease.
Two Inflation-Cutting Proposals
Behind the price chart recovery, two governance proposals are currently circulating in the community. The first proposal, SIMD-0550, targets increasing the annual disinflation rate from 15% to 30% to accelerate progress toward the network’s terminal inflation rate.
The second proposal, SIMD-0553, proposes a resource-based transaction fee model. This new rule is projected to increase the daily SOL burn rate from around 650 tokens to between 7,500 and 9,000 tokens. The formal voting process for both plans runs until August 18, pending approval from validators. Alongside this, a network upgrade named Alpenglow is scheduled to launch between August and October. This upgrade aims to slash transaction finality time from 12.8 seconds to just 100 to 150 milliseconds.
Footsteps of Traditional Giants
Solana’s infrastructure readiness has also attracted traditional financial players. BlackRock recently launched the Daily Reinvestment Stablecoin Reserve Vehicle, an instrument that can record ownership data directly on this blockchain. Meanwhile, Western Union issued a stablecoin named USDPT on the same network through a partnership with Anchorage Digital Bank. The product, which was officially launched last May, is now available in 37 different markets.
Liquidation Wall Ahead
Looking at this series of fundamental sentiments, analyst Michaël van de Poppe projects the price could climb to $100 to $120 in the long term. However, to reach that target, there is an immediate hurdle that buyers must clear this week.
Liquidation heatmap data shows that the largest accumulation of leveraged positions lies in the $77.80 to $78.20 range. This liquidity pool acts as the immediate resistance ready to test buyers’ strength. This situation warrants close monitoring, not only to ensure price momentum does not stall, but also to see if buyers can absorb the series of sell orders in this zone without triggering a sharp correction.
Reported from crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
