Solana (SOL) is currently trading within a parallel channel that could potentially set the stage for a rally back to triple digits. The mid-range resistance at $78 serves as a critical level — a decisive breakout above this threshold could open the path toward the channel's upper boundary at approximately $100. As one of the largest Layer 1 smart contract platforms by market capitalization, SOL's price action frequently sets the tone for the broader altcoin market, making its technical levels a bellwether for sector sentiment.

Dual Technical Catalysts Support the $100 Outlook

The MACD indicator is now signaling a Golden Cross, prompting seasoned market analysts such as Ali Martinez to set near-term price targets at $100.

Another key technical tool in focus is the Tom DeMark Sequential (TD Sequential), which uses a 9-candlestick formula to identify potential 'buy' or 'sell' signals across selected timeframes. While shorter timeframes tend to be more volatile and less reliable, the one-day Solana chart provides a clearer picture of where the next significant support cluster lies.

The TD Sequential has printed a 'buy' signal on the daily chart. However, analysts emphasize the importance of seeking confirmation near the $78.70 level before assuming a sustained move higher.

2/5 Solana appears to be trading within a parallel channel. A break above the mid-range near $78 could trigger a move toward the channel's upper boundary around $100 for $SOL. pic.twitter.com/c0fU5BTmgp
— Ali Charts (@alicharts) August 9, 2026

This technical setup typically anticipates a 1–4 candle upswing or the beginning of a new bullish countdown. If this scenario plays out, SOL could reclaim the $100 mark for the first time since early February — a psychologically significant round number that also aligns with a zone where the token traded heavily during its late-2023 through early-2024 consolidation. On the downside, if a broader crypto market correction materializes, the next major support level sits at approximately $59.

Bull Power Indicators Show Signs of Recovery

The True Strength Index (TSI) is currently in the process of crossing over, though both oscillator lines remain slightly negative. Should the indicator turn positive and hold above zero, a reclaim of the $78 zone could reinforce the bullish thesis.

This outlook is further supported by the Bull Bear Power (BBP) metric, which is beginning to tilt toward bullish territory after several consecutive bearish sessions.

CPI Data in Focus

A major question for traders is whether SOL bulls can retake the $78 mid-range territory before the upcoming Consumer Price Index (CPI) release on Wednesday. CPI reports are known to influence large-cap altcoin prices, including Solana, as they shape expectations for Federal Reserve monetary policy — looser financial conditions tend to benefit risk assets, while tighter conditions weigh on them.

A hotter-than-expected inflation reading could apply downward pressure on speculative asset classes. Conversely, a softer CPI print would create a more favorable environment for risk-on assets, potentially giving Solana the momentum needed to break through overhead resistance. Traders will also be watching SOL's ability to hold above the $59 support in the event of a risk-off reaction, as sustained breaks below that level could invalidate the parallel channel thesis.