The price of Solana (SOL) is approaching a decisive technical phase, with traders closely watching whether it can break through a key resistance zone and potentially target the $100 psychological level. After several unsuccessful attempts, SOL has hit the $90 threshold, raising bullish possibilities for the coming days.
SOL is currently trading near $91.20, up approximately 8% over the past 24 hours and 3.5% over the last week. However, the broader picture remains challenging, with Solana still about 13% lower over the past month and nearly 70% below its all-time high of $293.31 set in January 2025.
The price has been compressing within a tight consolidation zone, reflecting a balance between buying and selling pressure. The chart shows Solana approaching a critical resistance band between $88.5 and $89.3, a zone that has repeatedly blocked attempts to reclaim higher levels. Price recently rebounded from a strong demand area around the mid-$70s and has moved back above this accumulation zone, indicating renewed buyer interest.
The $95 price level has emerged as the key technical zone that everyone is watching. This area represents the 38.2% to 50% Fibonacci retracement level from the move between the $120 swing high and the $80 low. The $92 to $97 range previously held as support before breaking down, meaning it could now flip into resistance as price revisits it. Liquidity also appears to be clustered just above $95, making this level particularly sensitive.
Technical indicators show some positive developments. The Relative Strength Index (RSI) has climbed above the neutral 50 level for the first time this year, signaling that bullish momentum is gradually strengthening. However, if RSI stalls at this level, sellers could regain control. Volume on the rebound has been moderate, suggesting this move may still be a corrective bounce rather than a full reversal.
Derivatives activity is picking up significantly, with CoinGlass data showing trading volume jumping 24% to $17 billion and open interest climbing 7% to $5.26 billion. This combination typically indicates traders are opening new positions as price approaches a key decision zone.
If SOL manages to secure a daily close above the $90–$92 range, the path toward $95 could open relatively quickly as sellers appear limited in the immediate upside. The chart shows very limited supply pressure until the $95–$96 region. A confirmed breakout above $95 could potentially push the price toward the $100 psychological mark, with the next upside zone opening around $105 to $110. Conversely, if price rejects again at these levels, focus would quickly shift back toward $85 support.
