Solana Shows Early Recovery as Monthly Momentum Flips

Improving monthly indicators plus rising on‑chain demand point to a conditional rebound that needs price acceptance above $120 to become a sustained rally.

Overview

August produced Solana’s first green monthly candle in ten months, a higher‑timeframe shift that several analysts say signals weakening long‑term selling pressure.
SOL trades near $103 with short‑term support around $97.7–$100 and layered resistance at roughly $105–$120 and $146, so a clear close above $120 is treated as the next confirmation level.
On‑chain fundamentals have strengthened with SolanaFloor and other trackers reporting a $4.35 billion RWA milestone and the network settling about $14.7 billion in tokenized asset trading over the past year.
Smart‑money activity is visible: a large wallet labeled HURDw accumulated about 285,503 SOL over weeks, Solana spot ETFs posted modest weekly inflows of roughly $6.18 million, and the World prediction market launched to a million‑plus waitlist.
Analysts warn the setup is conditional because key resistance, cooling MACD momentum, prior short liquidations and a pullback in open interest mean renewed volume and price acceptance above the cited levels are required to validate targets in the $115–$150 range.