SOL After the Transaction V1 Upgrade: Could It Break Through $124?

SOL price has once again drawn attention as Solana prepares to activate Transaction V1 in September 2026. 

This upgrade brings important changes to the network's transaction capacity, with the transaction size limit increasing from 1,232 bytes to 4,096 bytes.

Amid expectations surrounding the upgrade, SOL price remains in an important area. Market data on September 8 showed SOL trading around US$102, while whale positioning and the technical structure indicate the potential for a major move once resistance is broken. One target drawing traders' attention is US$124.

So, can the Solana Transaction V1 upgrade become a catalyst for SOL price to continue its rally?

Key Takeaways

• Transaction V1: Solana increases the transaction size limit from 1,232 to 4,096 bytes.
• SOL US$124 Target: A breakout above resistance around US$107 could open the way toward US$124.
• Upgrade Is Not a Guarantee of a Rally: The positive impact on SOL price still depends on adoption and increased network activity.

What Is Solana Transaction V1?

Transaction V1 is an upgrade to Solana's transaction format designed to increase transaction capacity and flexibility on the network.

Through this upgrade, the maximum size of a single transaction increases to 4,096 bytes, or approximately 3.3 times the previous limit of 1,232 bytes. The change was established through SIMD-0296, while the v1 transaction format was introduced through SIMD-0385.

The increased capacity provides more room for transactions that require complex data. Solana highlights several use cases that could benefit, including zero-knowledge proofs, large multisig transactions, and various on-chain signature schemes.

Legacy and v0 transaction formats can still be used. This means applications that do not yet require greater capacity do not have to immediately switch to the v1 format. Meanwhile, developers who want to use the 4,096-byte capacity need to make adjustments to their transaction implementations.

Read Also: Solana Targets V1 Upgrade on September 9, What You Need to Know?

Why Is Transaction V1 Important for Solana?

Increasing transaction size is more than just a technical change. For developers, the additional space can make transactions that were previously too large for a single transaction easier to package.

This could help applications that require more complex operations, such as transactions with multiple instructions, multisignature transactions, and applications that require larger amounts of cryptographic data.

However, there are still limitations that need to be considered. Transaction V1 does not mean that the network's entire capacity increases without limits. 

Account limits and several other resources still apply. In addition, the use of Address Lookup Table (ALT) also changes under the v1 format, so developers need to adjust their implementations accordingly.

Therefore, the greatest benefits of this upgrade will only become visible if developers actually leverage it to build applications and increase activity on the Solana network.

Track SOL and other crypto assets with sign up on Bittime and follow the latest market updates.

Can Transaction V1 Drive SOL Price Higher?

This is the most important part for investors.

Directly, Transaction V1 does not automatically provide additional value to the SOL token. A successful network upgrade does not always mean the token price will immediately rise.

However, increased capacity could become a fundamental catalyst if it is followed by growth in network usage. 

The more applications that leverage Solana's new capabilities, the greater the potential for on-chain activity and demand for the network to increase.

In other words, the relationship between the upgrade and SOL price can be illustrated as follows:

Transaction V1 → greater capacity → more use cases → potential increase in network activity → potential increase in demand → positive sentiment toward SOL.

Therefore, traders should not only monitor whether the upgrade is successfully activated, but also whether there is a tangible increase in network activity after implementation.

Read also: SOL Price Is Bullish, Time to Buy or Wait for a Pullback?

SOL Technical Analysis: Can It Break $124?

From a technical perspective, the US$107 area is an important resistance level to watch.

According to the latest analysis, SOL is moving within a symmetrical triangle pattern on the four-hour timeframe. A breakout from resistance around US$107 could open the way for approximately 16% upside from that area, with the next target around US$124.

This means the US$124 SOL target is not merely a speculative figure, but is related to the projected breakout from the technical pattern currently forming.

However, SOL first needs to demonstrate that it can break through US$107 with sufficient momentum and volume.

On the downside, US$100 is an important psychological level. If the price fails to hold this area, selling pressure could increase again.

A bearish scenario could even bring SOL toward the US$84 area if the pattern's support is broken.

Convert 1 SOL to IDR - Solana to Indonesian Rupiah Exchange Rate

SOL Price Prediction for September 2026

Predicting prices in the short term is always difficult. However, several scenarios can be developed based on the available data.

Bullish Scenario

If SOL holds above $100 and volume continues to increase, the $110–$115 target becomes possible. Positive market momentum would accelerate this scenario.

Neutral Scenario

SOL moves sideways in the $95–$105 range. This consolidation is healthy as a base for the next move.

Bearish Scenario

If SOL fails to hold $95, a further correction could move toward $88–$90. This level becomes the next strong support that needs to hold.

Start trading SOL/IDR with Bittime here!

What Should Be Monitored After Transaction V1?

Investors should pay attention to several indicators after the upgrade is activated.

First, whether the Transaction V1 implementation runs smoothly without network disruptions. Second, whether developers begin taking advantage of the larger transaction capacity. Third, whether on-chain activity increases after the upgrade.

SOL price movements should also be viewed alongside overall market conditions, particularly Bitcoin and futures market movements.

Recent data shows that five whales on Hyperliquid opened long SOL positions with a combined value of around US$9.11 million ahead of the upgrade. Meanwhile, SOL's funding rate has turned negative and the long/short ratio is below 1, indicating that the futures market is still facing bearish pressure.

This condition makes SOL's movement increasingly interesting because there is a divergence between the bets of several whales and overall derivatives market positioning.

Read Also: How to Buy Solana: A Complete Guide for Beginners in Indonesia

Risks to Watch Out For

Transaction V1 is still not a guarantee that SOL price will rise.

The upgrade could succeed technically without yet generating significant growth in usage. If developer adoption and network activity do not increase, the fundamental impact on SOL demand could remain limited.

In addition, SOL price remains influenced by Bitcoin sentiment and overall crypto market conditions. The US$107 breakout also needs confirmation because failure to break resistance could cause SOL to retest US$100.

Read Also: Solana (SOL) Price Prediction in 2026: Price Performance and In-Depth Analysis

Conclusion

The Solana Transaction V1 upgrade is one of the important catalysts to watch in September 2026. Increasing the transaction size from 1,232 to 4,096 bytes gives developers more room to build more complex transactions and applications.

However, the upgrade does not automatically mean that SOL price will rise. The impact on price will be stronger if the increased capacity actually results in growth in network activity and usage.

From a technical perspective, US$107 is the key resistance, while a successful breakout could pave the way for SOL toward US$124. Conversely, failure to hold US$100 could increase the risk of a correction.

Interested in trading SOL? In addition to the SOL/IDR pair, Bittime also provides SOL/USDT to make your trading and investment strategies easier.

Bittime is a licensed Digital Financial Asset Trader (PAKD) platform supervised by the Financial Services Authority (OJK) — where you can buy Bitcoin in Indonesia and hundreds of other crypto assets starting from Rp10,000. Registration is fast and secure, and you can get started today.

Track the USDT to IDR conversion and the real-time price movements of your favorite crypto assets. Everything is available in a single crypto investment app that can be downloaded for free from the Play Store.

Ready to get started? Sign up on Bittime now and execute your investment strategy with a platform trusted by millions of users in Indonesia.

FAQ

What Is the Solana V1 Upgrade?

Solana V1 is a new transaction format that increases the transaction size limit from 1,232 bytes to 4,096 bytes and changes how resources and account addresses are structured. Solana Transaction V1 is targeted to go live on September 9, 2026.

Is Solana Still Bullish After Breaking $100?

Yes, as long as SOL can hold above $100. This level could become new support for further price movement.

What Is the Next Resistance Level for Solana?

The next resistance is in the $105–$110 range. This area becomes a short-term target if buying momentum continues.

Can Solana Rise Again This Month?

Yes, especially if volume continues to increase and market conditions remain supportive. However, a healthy correction before moving higher is normal.

What Is the Important Solana Support Level Right Now?

The nearest support is at $95–$98. If this level holds, the bullish structure remains intact.