Solana has gained 3.5% over the past 24 hours to trade near $100 on Sept. 17, extending its recovery from a drop below $96 earlier this week.
CoinGecko data puts SOL at $100 at the time of writing, with the token up 0.3% over the past hour and 31.6% over the past 30 days.
The latest move has pushed SOL back towards the $100 level after a 5.45% fall on Sept. 15 and a 1.73% recovery the following day.
Fresh demand has coincided with Moscow Exchange’s plan to launch perpetual futures linked to its Solana index on Sept. 22.
MOEX announced the product on Sept. 16 alongside similar contracts tracking Bitcoin, Ether, XRP and Tron.
The contracts will operate as one-day futures with automatic rollover and will be available only to qualified investors.
Prices will be quoted in US dollars, while financial settlement will take place in Russian rubles without delivery of the underlying cryptocurrencies.
More than 72,000 qualified investors have traded MOEX’s crypto linked futures, with cumulative turnover exceeding 600 billion rubles, according to figures released by the exchange.
SOL’s recovery began after the token fell from an opening price near $102.59 on Sept. 15 to close near $96.93, reaching an intraday low just below $96.
A 1.73% gain on Sept. 16 was followed by another move higher on Thursday, taking the price back above $100.
US monetary policy remains a source of pressure for crypto markets. The Federal Reserve raised its benchmark interest rate by 25 basis points on Sept. 16 to a range of 3.75% to 4%, its first increase in more than three years.
Fed officials’ median projections point to one more quarter-point increase before the end of 2026.
The dollar strengthened and short term Treasury yields moved higher following the decision, while SOL recovered from its earlier decline.
Higher borrowing costs remain part of the macro backdrop as the Fed responds to inflation that it described as elevated.
Institutional access to SOL through regulated products remains in focus as spot Solana exchange traded funds continue to provide exposure to the token.
Recent flows have been smaller than during stronger periods of accumulation, leaving the MOEX announcement as the fresher Solana specific development behind Thursday’s move.
Solana’s Alpenglow upgrade remains a separate network catalyst.
The proposed consensus system is designed to replace TowerBFT and target finality of around 150 milliseconds, compared with the network’s current finality time of around 12.8 seconds.
Mainnet activation has been expected during the third quarter of 2026 alongside Anza’s Agave 4.3 release schedule.
SOL price analysis
On the daily chart, Solana price was holding near $100 after pulling back from its late August high near $110.
The decline reached the $96 to $97 area this week before buyers pushed the token back above $100, leaving $97.16 as the nearest visible support and $109.32 as the upper resistance level.
The Directional Movement Index shows the trend remains established despite the recent pullback.
See below:
SOL/USDT 1-day price chart. Source: TradingView.
ADX stands at 41.64, above the 25 level commonly associated with a strong trend, while +DI at 24.99 remains above −DI at 14.88.
The gap between the directional lines has narrowed, however, as +DI has fallen from its early September readings and −DI has started rising.
A daily close above the recent $103 to $105 trading area could put the $109.32 resistance back in focus.
Breaking that level would take SOL above the late August and early September peaks and could open a move towards $112.50 and then $115.
Failure to hold the $97.16 area would weaken the current recovery. The next visible price zone sits around $94 to $95, followed by $90 if sellers push SOL below that range.
On the 4-hour chart, SOL’s Rate of Change has climbed to 3.42 after falling below zero during the Sept. 15 selloff.
SOL/USDT 4-hour price chart. Source: TradingView.
Price has risen alongside the move back into positive ROC territory, recovering from below $97 to just over $100.
Accumulation/Distribution has turned higher at 139.93 million after declining through much of the first half of September.
The indicator remains below its early September peak above 142 million, but its latest rise has accompanied SOL’s recovery from the $96 area.
The 4-hour structure puts $102.50 in the way of a continued recovery, followed by $105.
A break above $105 would bring the $107.50 to $110 region back into play.
If SOL is rejected below $102.50 and falls through $97, the $95 area becomes the next target, with the daily support structure weakening below that level.
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