Charles Schwab Plans Direct SOL Trading as Solana Holds Above $100

Solana is trading near $106 after breaking above $100 as two fresh developments put institutional access and accumulation back in focus. Charles Schwab plans to add SOL to its direct crypto platform in the coming months, while DeFi Development Corp has resumed buying for its Solana treasury. The developments strengthen the demand narrative around SOL, but price still needs to clear $110 before the latest rally can move into the next part of its broader recovery.

Key Takeaways

• Charles Schwab plans to add SOL alongside AVAX and LINK as the first expansion of Schwab Crypto beyond Bitcoin and Ethereum.
• The new assets are expected in the coming months, so Schwab clients cannot trade SOL through the platform yet.
• DeFi Development Corp bought roughly 19,000 SOL at an average price of $98.14, taking its treasury to about 2.33 million SOL and SOL equivalents.
• SOL is holding above $100 and testing $110, with $120 becoming the next major level if buyers confirm the breakout.

Charles Schwab Expands Crypto Trading Beyond BTC and ETH

Charles Schwab announced on August 27 that Solana will join its direct crypto trading platform alongside Avalanche and Chainlink.

According to Schwab's announcement, the three assets will become available for clients to buy and sell in the coming months. Schwab Crypto began rolling out in May with direct access to Bitcoin and Ethereum, making SOL part of the platform's first expansion beyond the two largest cryptocurrencies.

The timing matters for Solana because it opens another route for investors who prefer using a traditional brokerage rather than a crypto-native exchange.

It is not an immediate demand event, though. Schwab has not launched SOL trading yet, and adding the token to the platform does not guarantee that clients will buy it once trading becomes available.

What changes is access. SOL is moving closer to sitting alongside traditional investments inside an established brokerage account, lowering one of the practical barriers for investors who do not currently use dedicated crypto platforms.

DeFi Development Corp Adds Another 19,000 SOL

A separate development on August 27 provided a more direct source of demand.

DeFi Development Corp said it had resumed SOL purchases by acquiring approximately 19,000 SOL at an average price of $98.14. The transaction expanded its treasury to approximately 2.33 million SOL and SOL equivalents. The company's August 27 announcement confirms that the newly acquired tokens form part of its long-term Solana treasury strategy.

The distinction between the two developments is important.

Schwab is creating a potential distribution channel for future SOL demand. DeFi Development Corp is already buying SOL and adding those tokens to a corporate treasury.

Together, they show two different forms of institutional involvement developing around Solana at the same time.

Better Access Does Not Guarantee the Rally Continues

Neither development should be used to explain the entire SOL rally.

Solana had already been climbing before Schwab announced the expansion. SOL moved from around $76 on August 17 to above $100 before the latest announcement, meaning the current rally has developed alongside a much broader recovery across the crypto market.

Schwab's decision can potentially expand the pool of investors able to access SOL, but the actual impact will depend on how much demand appears once trading launches.

DeFi Development Corp's purchase is more immediate, but one corporate treasury acquisition is not large enough to define SOL's wider market direction by itself.

The developments therefore strengthen the backdrop around the rally without replacing the need for technical confirmation.

Solana Technical Analysis on the Daily Chart

SOL is trading near $106 after finally breaking through the $102.50 area that rejected the rally twice earlier this month. That makes $102.50 the key breakout support rather than the psychological $100 level.

The next resistance sits around $110.50. A completed daily close above it would confirm another higher high and strengthen the case for a move toward $120, which previously acted as major support during SOL's broader 2026 structure.

On the downside, a return to $102.50 would not immediately weaken the chart. Holding that level on a retest would confirm a clean resistance-to-support flip.

A daily close back below $102.50 would make the breakout less convincing and put $93.50 back in focus. The wider structure remains bullish unless SOL falls below $87.50, which would break the broader August recovery.

For now, buyers remain in control while SOL holds above $102.50. A close above $110.50 would confirm continuation, while losing the breakout level would bring a deeper pullback back into play.

What to Expect Next

• Bullish case: SOL holds $102.50 and closes above $110.50, opening a move toward $120.
• Bearish case: A daily close below $102.50 exposes $93.50.
• Key catalyst: Schwab's planned SOL trading launch could broaden direct investor access.
• Invalidation: A daily close below $87.50 would invalidate the broader August recovery.

 

FAQs

Can Charles Schwab clients buy SOL now?

Not yet. Schwab says Solana trading will become available through Schwab Crypto in the coming months.

What level does SOL need to break next?

SOL needs a completed daily close above $110. That would clear the latest August high and put the larger $120 resistance back in focus.

 

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