Mercari Adds Solana (SOL) Trading in Japan, Expanding Lineup to 16 Coins

Mercari Opens SOL Trading in Japan

Japanese e-commerce giant Mercari has added Solana (SOL) trading to its marketplace app, with subsidiary Mercoin announcing the launch on Aug. 31. The integration routes orders through Mercoin as intermediary, with crypto exchange Coincheck acting as the counterparty under its Coincheck CaaS (Crypto as a Service) infrastructure. Users can convert sales proceeds held in Merpay into SOL from as little as 1 yen, provided they open a Mercoin trading account and complete a linked Coincheck application; existing Coincheck customers, users under 18 or over 75, and residents outside Japan are excluded. The listing pushes the number of assets tradable in the app to 16, 13 of which run through the Coincheck integration, placing the Solana blockchain alongside BTC, ETH, XRP and DOGE. To mark the launch, a campaign running Sept. 1 to Sept. 14 grants 200 yen in points to users making their first SOL purchase. Mercoin's crypto service, started in March 2023, had surpassed 4 million registered accounts by the end of March 2026, with roughly 90% of users new to crypto trading — a mainstream distribution channel that puts buying Solana in front of millions of first-time investors.

ETF Streak and Weekly Close

The exchange news lands during a strong week for the token. SOL ended last week at roughly $102.80, its highest weekly close in seven months, and rose about 9% over seven days — the best weekly performance in the top 10. Institutional demand has backed the move: spot Solana ETFs recorded nine consecutive days of net inflows, the longest green streak since May, per SoSoValue data, with issuers including Bitwise, Fidelity, Grayscale, VanEck and Franklin Templeton. Bitwise's BSOL fund recently crossed $1 billion in assets under management, the largest product in the pack. Market commentators are turning louder as well: analyst Ash Crypto flagged the seven-month closing high as “bullish for Solana holders,” Carl Hawley pointed to $120 as the next level if momentum holds, and another X poster argued SOL is “a $1,000 token trading at $102” — the sort of rhetoric that historically fuels FOMO-driven buying across the wider altcoin market.

Pullback From $110 High

The rally has cooled, however. SOL opened Aug. 25 at $98.56 and ran to an intraday high of $110.04 on Aug. 27 — an 11.6% advance in under three days, capping a roughly 55% recovery from the early-August low near $71 — before pulling back to around $102.50 by Aug. 31, trimming the weekly gain to about 4.2%. The daily RSI slipped from overbought territory to 68.43, with its moving average still higher at 77.14, indicating easing momentum rather than a bearish reversal; price has re-entered its Bollinger range after briefly pushing above the upper band at $114.36, with the middle band at $90.36. On the 4-hour chart, Supertrend support sits at $100.95, while CMF at minus 0.07 shows capital flow turned slightly negative on the retreat. CoinGlass' liquidation heatmap places concentrated leverage just below the market at $100.50–$101 and above at $104–$105, so either side could see volatility spike — and a drop into the lower cluster risks turning recent buyers into exit liquidity. Analyst Gerla, who notes SOL has broken a roughly one-year downtrend and is forming higher lows, treats $100 as a base with $300-plus as a longer-term expansion zone. Solana price coverage will track whether spot buyers defend that floor. Readers tracking the market in real time can follow live spot and futures prices on Binance.

$110.54 Ceiling, $100 Floor

COINOTAG's proprietary 42-indicator composite S/R scoring engine frames the battleground precisely: the $110.54 resistance — a confluence of R2, Donchian Upper and Swing High — scores 86/100, while $106.05 (ATR Upper, Pivot Point) rates 75/100. Below, the $100.14 support (ATR Lower, Fibo 0.214) carries 75/100, with $93.77 at 76/100 behind it. Spot trades at $103.15, down 3.07% in 24 hours, with RSI at 68.97 and a bullish MACD in an uptrend. Perp funding is marginally negative at -0.0020% against $2.22B open interest and a 1.91 long/short account ratio — a mild short-side tilt that could fuel squeezes — while the Fear & Greed Index reads 62 (Greed). Holding $100.14 keeps the bullish case alive toward $110.54; a daily close below it invalidates the setup and opens $93.77.