As the Bitcoin price stabilizes around the $80,000 range, bullish momentum appears to be gradually returning to the crypto markets. Among the top-performing altcoins, Solana is showing notable strength after the SOL price surged above $90 and climbed as high as $93 over the past few hours.
The rally has pushed SOL close to a crucial resistance zone, while technical indicators continue to flash bullish signals. Analysts now believe a breakout above the local resistance near $95 could open the doors for a fresh rally toward the long-awaited $100 milestone this weekend.
The Solana price is approaching a crucial resistance zone after reclaiming the $90 range with rising bullish momentum. As market sentiment improves, traders are now watching whether SOL can break above the local resistance near $95 and trigger a fresh rally toward the psychological $100 milestone this weekend.
The daily chart shows SOL rebounding strongly from the key support zone near $76 while forming higher lows, indicating growing bullish strength. The price is now testing the upper resistance range near $95, which has capped previous recovery attempts.
An ascending trendline continues to support the rally, while the Supertrend indicator has flipped bullish. Meanwhile, the CMF indicator has moved back into positive territory, suggesting improving buying pressure and fresh capital inflows. A breakout above $95 could open the doors for a rally toward $100 and potentially higher levels. However, failure to clear the resistance may trigger a pullback toward the $89 support zone.
Key Levels to Watch
Solana continues to maintain a bullish structure as the price approaches the crucial resistance zone near $95. The formation of higher lows and improving buying pressure suggest the bulls are attempting to build momentum for a breakout toward $100.
However, SOL still needs to secure a strong daily close above the resistance zone before confirming the next leg higher. If the breakout occurs over the weekend, the Solana price could quickly rally toward the $100 milestone this week. Otherwise, continued consolidation below resistance may delay the move until next week.
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