Solana Jumps 8.7% to $83.73 on Network Upgrade and ETF Inflows

Solana USD surged 8.7% to $83.73 in 24 hours, outpacing Bitcoin’s 3% gain. The rally stems from a mainnet upgrade that cut slot time from 400ms to 350ms for faster transactions, combined with ARK Invest’s purchase of 3iQ Solana Staking ETF shares on August 17. The move signals renewed institutional confidence in the network’s technical roadmap.

Why the network upgrade matters for Solana’s performance

Solana’s mainnet reduced slot time to 350ms in epoch 1020, improving speed for high-frequency applications. This technical improvement boosts the network’s competitiveness against rivals. ARK Invest simultaneously added Solana staking ETF shares to funds ARKW and ARKF, demonstrating institutional appetite returning to the ecosystem after months of caution.

Technical signals show mixed momentum despite the rally

The RSI stands at 56.49, neutral territory with no overbought warning yet. MACD is positive at 0.17 with a histogram of 0.31, signaling upward momentum. However, ADX at 12.58 indicates no strong trend, meaning the move lacks conviction. Price sits at $83.73, above the 50-day average of $76.18 but below the upper Bollinger Band at $77.69, suggesting room to run without immediate resistance.

Solana USD price forecasts point to further gains

Meyka’s one-month forecast is $108.41, representing a 29.5% upside from today’s price. The 12-month target reaches $176.22, implying 110.5% potential gain if the upgrade cycle sustains. These forecasts assume continued institutional adoption and network stability. Forecasts may change due to market conditions, regulations, or unexpected events.

Volume and market structure support the breakout

Trading volume hit 95.7 million tokens in 24 hours, though relative volume of 3.73% remains below the 2.3 billion average, signaling room for participation to expand. The market cap stands at $46.4 billion. Stochastic indicators at 78.84 (%K) suggest overbought conditions in the short term, warranting caution for new entries at current levels.

Final Thoughts

Solana’s 8.7% jump reflects genuine technical progress and institutional re-engagement, not speculation. With the network upgrade live and forecasts calling for $108+ in one month, the data supports further upside if volume confirms the breakout. Traders should watch for ADX to strengthen above 25 to confirm a sustained trend.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.