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Solana (SOL) has returned to test the $90 resistance barrier, a level that has repeatedly rejected upward attempts throughout February and beyond. SOL is currently trading near $88, up about 2.5% over the past 24 hours. During the latest push, the token briefly reached $94.21 before retreating by more than 5%.
Over the previous month, SOL fell approximately 2.4%, while both Bitcoin and Ethereum posted gains of around 12%. The divergence has drawn renewed attention from traders, who are now assessing whether this resistance test will produce a different outcome.
Trading activity has increased notably. Daily trading volume rose 35% to $5.3 billion, equivalent to nearly 11% of SOL’s circulating market capitalization. Artemis data also indicates weekly volumes have reached levels not seen since the beginning of March.
The $88–$90 supply zone remains a focal point. Multiple attempts to break higher have been met with selling pressure, forming a resistance cluster between $86 and $89. Analysts cited in the article say a meaningful breakout would likely require a daily close above $95–$98, supported by substantial volume.
Despite price stagnation, institutional interest appears to be continuing. Solana ETFs have recorded positive inflows for eight consecutive trading sessions, totaling $50 million. Total fund assets have risen to $863 million, according to the article.
One technical view shared by analyst Lucky on X suggests SOL is trapped within a descending channel while testing overhead resistance. The analysis points to a demand floor at $67.73 and draws parallels to a prior breakout pattern that previously led to a larger upward move.
“Look at $SOL… still glued to $85 like it signed a lease there. How much longer is it planning to stay stuck?”
In contrast, analyst MCO Global DE argues the current bounce is corrective, with a five-wave decline pattern still active beneath $89. The article frames these differing interpretations as evidence of uncertainty around SOL’s next directional move.
On momentum indicators, the Relative Strength Index is moving toward the mid-50s, building momentum without reaching overbought conditions. The MACD shows a bullish crossover, indicating gradually increasing buying pressure. Traders Union projects SOL could reach about $87.84 within the coming week, implying sideways consolidation rather than an immediate breakout.
If SOL can breach and hold above $95–$98, technical analysts in the article identify initial upside targets between $105 and $120. One projection estimates potential gains of about 36% from current levels if momentum carries toward the 200-day exponential moving average. A more extended breakout scenario maps resistance as high as $253 under favorable broader market conditions.
Support levels highlighted include $82–$83, with additional floors at $80.50 and $77.20. The demand zone base at $67.73 is described as the critical threshold bulls must defend to maintain the current structure.
The article also points to a structural headwind for Solana relative to Ethereum: Solana’s DeFi infrastructure is described as less developed. Kamino, identified as Solana’s leading DeFi protocol, has just under $2 billion in total value locked. By comparison, Ethereum’s Aave alone is cited at $12.8 billion.
Network decentralization is also presented as a factor favoring Ethereum, with Ethereum operating 912,000 validator nodes versus Solana’s 777 active validators.
Additionally, the meme coin sector—where Solana-based platforms such as Pump.fun previously led—has cooled over the past half year, according to the article.
Entering the next trading session, the article says traders are monitoring two confirmation metrics: recovery of open interest toward $6 billion and sustained stablecoin network volume.
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