As the Bitcoin price stabilizes around $80,000, bullish momentum appears to be gradually returning to the crypto markets. Among the top-performing altcoins, Solana is showing remarkable strength after SOL price rose above $90, reaching as high as $93 in the past few hours.
The rally has pushed SOL close to a crucial resistance zone, while technical indicators continue to give bullish signals. Analysts now believe that a break above local resistance around $95 could open the doors for another rally towards the long-awaited $100 mark this weekend.
Solana Price Analysis: Can Bulls Keep the Momentum?
Solana price is approaching a crucial resistance zone after regaining the $90 range with rising bullish momentum. As market sentiment improves, traders are now watching to see if SOL can break above local resistance around $95 and ignite a new rally towards the psychological milestone of $100 this weekend.
The daily chart shows the SOL recovering strongly from the key support zone around $76 while forming higher lows, indicating increasing bullish strength. The price is now testing the upper resistance range near USD 95, which has limited previous recovery attempts.
A rising trendline continues to support the rally, while the Supertrend indicator has turned bullish. Meanwhile, the CMF indicator has turned positive again, indicating increasing buying pressure and new capital inflows. A breakout above $95 could open the doors for a rally towards $100 and possibly higher levels. However, failure to remove resistance could lead to a pullback towards the $89 support zone.
Important levels to watch
- Immediate resistance: $95
- Major bullish target: $100
- Instant Support: $89
- Strong support zone: $76
Will the Solana price reach $100?
Solana continues to maintain a bullish structure as the price approaches the crucial resistance zone near $95. The formation of higher lows and increasing buying pressure suggest that the bulls are trying to build momentum for a breakout towards $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, Solana price could quickly rise towards the $100 milestone this week. Otherwise, continued consolidation below resistance could delay the move until next week.
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