In this video, we break down Solana on the Weekly & 4hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Solana (SOL) is currently trading at approximately $103.83, representing a slight pullback of around 1.1% to 1.5% over the last 24 hours. Despite the minor intraday volatility, SOL continues to show strong underlying momentum, holding a crucial support base after a robust 41.4% gain in August, making it the token's first positive month of 2026.
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Solana Insights Today
-Upcoming Transaction V1 Upgrade (September 9): Scheduled to activate next week, this core protocol change expands transaction sizes by 3.3x. This update lays the technical infrastructure needed to natively support zero-knowledge proofs and more advanced cross-chain operations.
-Radical Transaction Finality Cut: The developer community and co-founder Anatoly Yakovenko have been hyping the impending Alpenglow upgrade. Mainnet deployment will slice transaction finality time down from 12.8 seconds to 150 milliseconds—a 99% reduction that will make dApp usage feel virtually instantaneous.
-On-Chain Governance & Deflationary Burns: On-chain voting is open for critical proposals (SIMD-0550 and SIMD-0553). These measures seek to price transactions relative to consumed computing resources and burn those fees completely. If passed, daily token burns could jump from roughly 648 SOL to 7,500–9,000 SOL, building long-term deflationary pressure.
-Aquifer AMM Security Breach: On August 31, Solana-based automated market maker Aquifer suffered an exploit resulting in a $2.5 million asset loss. The team has officially published an on-chain "white hat" bounty, offering the attacker a 20% reward if 80% of the funds are returned to recovery addresses by September 3.
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