Solana (SOL) is continuing its short-term bullish momentum with a double-digit gain. As the price has climbed to near its 24-hour high, trading volume has also increased, drawing market attention to whether the uptrend will persist.

■ $87.17 on Binance... Up 12.66% in 24 Hours

As of August 20, 2026, Solana is trading at $87.17 on the Binance spot market. Compared to its 24-hour opening price of $77.37, this represents a gain of approximately 12.66%. During the same period, it recorded a high of $87.98 and a low of $77.28, with 24-hour trading volume totaling around $442.1 million.

■ Spot Trading Volume Near the High Is Key to Further Gains

In the short term, whether spot trading volume holds up near the high is a crucial variable. If actual buying pressure and trading participation continue to support the price even after the sharp rally, the bullish trend could extend further. Conversely, if trading volume shrinks rapidly, it is difficult to rule out the possibility of entering a period of heightened volatility with a partial pullback of the recent gains.

■ Bitcoin and Ethereum Trends Are Also a Variable

The overall cryptocurrency market sentiment can also sway Solana's price. Solana is regarded as one of the major altcoins that responds sensitively to changes in market risk appetite. If Bitcoin and Ethereum maintain stable trends and market liquidity persists, a favorable environment could form for Solana as well. On the other hand, if Bitcoin or Ethereum enters a sharp correction or investors' risk-off sentiment intensifies, Solana could also experience relatively large price swings.

■ Leverage Liquidation Risk in Focus... Need to Distinguish 'Spot vs. Derivatives'

Movements in the derivatives market also warrant attention. When leveraged long positions build up excessively during a rapid price rise, even a small decline can trigger cascading liquidations. Therefore, it is necessary to distinguish whether this rally is driven primarily by spot demand or relies heavily on expanding leverage in derivatives. If the current price stabilizes near the recent high and trading volume remains above a certain level, the market could test upward momentum once again. However, if declining trading volume, a shift to risk-off sentiment, and excessive leverage accumulation occur simultaneously, the likelihood of giving back part of the short-term surge could grow.

■ Long Term, Network Growth Is the Core Factor

For Solana's long-term price trajectory, the growth of the network itself is also a critical element. Based on fast transaction processing and relatively low fees, Solana has expanded its ecosystem across various sectors including DeFi, NFTs, and consumer applications. However, increased network activity does not necessarily translate directly into a rise in the SOL price. Multiple variables—network stability, the growth of competing blockchains, the regulatory environment, market liquidity, and investor sentiment—all affect the price simultaneously.

Ultimately, in judging whether this Solana surge will lead to further gains, what matters is identifying the nature of the capital driving the rally rather than the price itself. The key factors are whether spot trading volume holds up and whether overall market risk appetite continues, and given the sharp short-term rise, the possibility of abrupt price swings from profit-taking and leverage liquidations should also be kept in mind.

[This article was written with AI assistance. It is not investment advice intended to recommend the purchase or sale of any specific cryptocurrency. Cryptocurrencies are highly volatile and you may lose your entire investment. Prices and trading volumes cited in this article may vary depending on the exchange and the time of aggregation. Before making investment decisions, be sure to verify real-time prices, disclosures, and market conditions directly on your exchange.]