Solana (SOL) has posted a rapid climb toward the $87–90 range in recent days, signaling buyers are regaining control on short-term charts. According to CryptoAppsy, SOL is trading at $86.97, up 2.32 percent in the past 24 hours. The intraday low hovered at $84.45, while the high touched $87.39. As investor interest heats up, the key question is whether this momentum can be sustained.
Is the long-term downtrend finally broken?
There’s a notable technical development: Solana has broken above its year-long downward trendline, which had restricted gains for months. Holding above this line could suggest further bullish momentum is possible.
Rand Group’s analysis underscores that Solana has overcome its persistent downtrend, interpreting this as an early signal for a potential rally.
A firmer confirmation will come if SOL can decisively establish itself above $90. Should this level fall, targets stretch toward $96 and even the $100–105 range. However, a renewed slip below the trendline might signal the breakout was short-lived.
$90 resistance and liquidation of short positions
As SOL neared $90, pressure mounted on traders holding short positions in the derivatives market. More than $17 million in SOL short positions were liquidated in the past 24 hours—driven by the price running contrary to expectations of a pullback.
Data from SolanaFloor indicates forced buying from short-traders played a significant role in accelerating SOL’s move toward $90.
Short liquidations often amplify rallies, but for a sustained uptrend, real demand must also appear in spot trading. If $90 proves too strong to break, traders warn SOL may retreat to the $86–84 range for another test.
Analyst views and chart outlook
Market analysts agree that Solana is trading at a critical inflection point. Ali Charts highlights the $89–90 range, suggesting a breakout there could spark a fresh SOL rally. Crypto Melih points to strong hourly closes above $89.50–90.75 as a launchpad for further upward moves, with $96.90 and higher as potential targets.
At present, SOL is testing a major resistance level. Analysts note that a clean breakout could further strengthen the bullish bias going forward.
Mixed on-chain signals beneath the surface
While price action remains constructive, on-chain metrics give a slight note of caution. Santiment Intelligence reports Solana’s weekly active addresses have dropped from 5.01 million in early February to around 2.89 million recently. Despite positive price sentiment, actual transaction activity on the network is declining.
Santiment Intelligence points out that the number of transacting addresses on Solana has fallen sharply, even as overall market sentiment has grown more optimistic.
This creates a mixed picture: fewer active addresses suggest less ecosystem usage, yet the rising bullish sentiment reveals investors remain confident about SOL’s prospects.
Support and resistance levels to watch
SOL’s next moves will largely depend on whether buying interest can remain strong. In the short run, $89–90 stands out as the first key resistance. Sustained closes above this zone could propel the price toward $96, and possibly $100–105 if momentum persists.
On the downside, the $84–85 area holds as initial support. Should this level give way, SOL may slide back toward the $78–80 band. For now, structure remains positive, but analysts caution that a confirmed close above $90 is needed before declaring a firm bullish breakout.
