Solana (SOL) is trading near the $100 support level following a sharp rebound, with analysts monitoring whether this former resistance can hold as support as the broader crypto market stabilizes after a turbulent early September. The recovery comes after over $369 million in crypto positions were liquidated across major assets, including Solana, Ethereum, and XRP, affecting more than 90,000 leveraged traders.

What Triggered the September Crypto Selloff?

The cryptocurrency market experienced significant pressure in early September 2026 as multiple macroeconomic factors converged. Rising oil prices, higher U.S. Treasury yields, and expectations of a Federal Reserve rate hike created a challenging environment for risk assets. The liquidation wave hit Solana alongside Ethereum and XRP, with Bitcoin falling to around $77,200 to $77,600 and Ethereum dropping to $2,410 to $2,430 during the downturn. Market observers noted that September's decline follows a typical seasonal pattern in crypto markets, with Dogecoin cofounder Billy Markus commenting on the usual seasonal drop that affects both cryptocurrencies and traditional assets as the month begins.

Why Is the $100 Level Significant for Solana Traders?

Technical analysts are closely monitoring whether Solana can hold the $98 to $100 zone as support after the recent rebound. According to market analysis, if SOL maintains support at $100, the next major resistance target sits around $117. This level represents an important reference point for tracking the asset's near-term price action. Earlier in August, Solana had demonstrated significant strength, with the network benefiting from institutional inflows and positive regulatory developments; however, the September liquidation wave tested that momentum, creating the current recovery scenario.

The broader context shows that Solana had attracted growing institutional attention through spot exchange-traded funds (ETFs) and regulated custody solutions in the months leading up to September. This institutional presence may influence how the market responds if support at $100 is tested again.

How to Track Solana's Market Movements During Volatile Periods

• Support and Resistance Zones: The $98 to $100 range serves as the primary support level; if this breaks, lower levels become relevant for assessing selling pressure. The $117 level represents the next meaningful resistance if support holds.
• Liquidation Data: Monitoring total crypto liquidations across exchanges provides context for market stress; the recent $369 million wave affected over 90,000 traders and created the conditions for the current rebound.
• Macroeconomic Catalysts: Tracking U.S. Treasury yields, oil prices, and Federal Reserve communications helps explain why crypto assets like Solana move in tandem with broader market risk sentiment.
• Seasonal Patterns: September historically brings volatility to crypto markets, so investors should expect continued price swings as the month progresses.

What Does Solana's Recovery Signal About Market Conditions?

Solana's rebound from the September selloff demonstrates that the network retained underlying support despite macroeconomic headwinds. The asset had shown considerable strength in August, driven by institutional interest and positive regulatory signals. The September liquidation wave, while significant in the short term, appears to have cleared out overleveraged positions rather than fundamentally undermining confidence in the network. The fact that Solana is trading near $100 following the rebound suggests that some market participants are willing to buy at lower prices after the liquidation event.

Investors should remain aware that rapid gains can reverse quickly, particularly given the seasonal volatility that September typically brings to crypto markets. The technical setup at the $100 level provides a clear framework for tracking whether Solana's recovery has genuine follow-through or represents a temporary bounce before further weakness.