Solana Tests $113–$115 Weekly VWAP as Stablecoin Activity Hits Record

A weekly close above roughly $115 would strengthen a nascent bullish reversal and make moves toward $125–$145 more likely.

Overview

SOL pulled back to about $108.7 after a rally toward $112–$114 and was testing immediate support near $107–$108 in the latest coverage on September 20–21.
Technicians say Solana has flipped a prior lower high near $96, which established a tentative bullish market structure that now hinges on a sustained weekly close above the weekly VWAP band around $113–$115.
Solana reported roughly 888,000 daily active stablecoin addresses in September, a 269% year‑over‑year rise that analysts call supportive of demand but not proof of lasting price gains.
If price clears and holds above ~$115, analysts point to targets near $125 and then the $140–$145 supply zone; losing the $96 breakout level would expose $80–$90 and reopen a bearish path with a deeper invalidation near $60.
Market mechanics are also in play: recent ETF flows and a short squeeze drove volatile, high‑volume trading that produced large short liquidations and could accelerate moves higher or reverse sharply once forced buying eases.