Solana (SOL) is trading near $117.38 after reaching a session high of $119.90 and testing the $118 to $120 resistance zone for the first time in about eight months. The token is down 0.13% over 24 hours but has recovered sharply from a low of $60 earlier this year. After trading between about $70 and $82 through July and the first half of August, SOL broke out in late August and later reached a local peak of $119.43. Analyst Ash Crypto said SOL has reclaimed its 200-week moving average and is forming a weekly golden cross (bullish moving-average crossover), though the signal has not been confirmed. GordonGekko said a sustained move back above $118 could open a path toward $148, while a fall below that level would bring $110 to $112 into focus. TradingView data shows the 20-day EMA (short-term trend average) near $105.59. JAVON MARKS said SOL broke out of a long-term Cup and Handle pattern, whose full measured move points above $500, while Sweep compared the current $95 to $100 base with an earlier accumulation phase and projected $400 to $500 over a much longer timeframe. Derivatives activity has also increased, with SOL open interest (the value of outstanding futures positions) at about $2.97 billion, compared with $25.84 billion for Bitcoin and $16.97 billion for Ethereum, according to Santiment Intelligence data. Solana’s share of tokenized equity trading volume reached 35%, its highest level in two months, nearing Robinhood’s 39% share. Solana also processed 76% of all x402 transactions, totaling 23.2 million over four weeks, while the second-largest network handled about 3.39 million. SOL remains just below the $118 level analysts are monitoring.