Solana has risen 5.89% over the past week, yet its price remains down 57% over one year, with a low of $60.13 set on June 6, its lowest level since December 2023. Popular analyst Ali Martinez stated that a $100 price target is feasible, citing the TD Sequential buy signal on the daily chart, the MACD golden cross, and a breakout above the $78.70 resistance level as potential catalysts for a bullish move. A Solana Resource and Inclusion Fee proposal cleared the initial voting stage on August 4, and if approved, it will increase the daily SOL burn from 650 to 9,000, a 14x increase. However, volume indicators remain weak and show seller dominance, which tempers short-term optimism.
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