SOL price is holding above the $100 area while a whale has accumulated 285,503 SOL worth approximately $28.82 million over the past three weeks. The buying is notable, but the chart still has a few levels to settle before the bullish case gets comfortable.
SOL Price Gains Support From Whale Activity
Whale HURDw reportedly bought the entire position on Hyperliquid, adding to the growing attention around Solana. The accumulation comes alongside news that Fundstrat may be pivoting from Ethereum toward Solana, although the supplied information doesn’t confirm a completed shift.
Another development involves the $11 million CHAD offering from DeFi Development Corp. The chairman of Ethereum treasury firm BitMine participated in the offering, described as the first SOL-backed digital credit instrument, with proceeds set to buy SOL.
That gives the market another reason to watch the token. Still, whale purchases and treasury activity don’t automatically guarantee a sustained rally.
Solana RWA Growth Adds Fundamental Support
Solana’s real-world asset ecosystem has surpassed $4.35 billion in total value, reaching a new all-time high. The number of RWA holders has also crossed 420,000, setting another record for the ecosystem.
Those figures suggest Solana’s tokenized-asset activity is expanding. Combined with the reported whale accumulation, the data helps explain why some investors continue to view SOL as undervalued. But the price eventually has to do the talking.
SOL Price Faces A Crucial $100 Test
On the daily chart, SOL price has been rising since the mid-August golden cross between the 200-day and 50-day EMA bands. The token is now struggling to sustain the rally above $100 during September.
If buyers defend that level, the recovery could extend toward the middle band of a multi-month falling wedge near $130. A stronger breakout could then bring $150 into focus.
The bearish scenario is less complicated. Losing $100 could expose SOL to a correction toward $80. If that support fails, the decline could stretch toward $50.
For now, SOL price has whale accumulation, expanding RWA activity and a bullish technical setup working in its favor. Yet the $100 level remains the immediate test, and a sustained break could determine whether SOL moves toward $130 and $150 or slip back toward $80 and $50.