Summary
Solana (SOL) was US$105.56, up 5.05% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Solana is up 3.74% to $103.17 in 24h, significantly outperforming a broader market that rose 1.56%, primarily driven by a live network upgrade that enhances developer capabilities. It shows strong alpha, moving independently of Bitcoin's +1.06% gain. 1. **Primary reason:** The activation of Solana's "Transaction v1" network upgrade, which more than triples the maximum transaction size, enabling more complex applications like zero-knowledge proofs. 2. **Secondary reasons:** Positive momentum within the Layer 1 sector and selective institutional inflows into Solana ETFs, which saw net inflows while Bitcoin and Ethereum ETFs experienced major outflows. 3. **Near-term market outlook:** If SOL holds above the $100 psychological support and breaks the immediate resistance near $102.80, it could target the Fibonacci extension level near $110. A drop below $99 could invalidate the bounce and test support near $96.