Solana (SOL) has booked a 7% gain in the past seven days after breaking the $90 barrier, as traders’ interest in cryptocurrencies seems to be recovering. Trading volumes remain elevated, at about 9% of the token’s circulating market cap. The move follows a recent breakout that signaled renewed appetite for SOL-based applications.
A buy signal right before the breakout above $88 set the stage for a move toward the next resistance near $97. The game plan called for an entry at $88 with a stop price $2 below that level, a setup that reportedly paid off. Another factor supporting upside is a breakout above $90, which could retest that level and attract late buyers.
On the daily chart, the breakout above $90 has effectively invalidated a potentially bearish bull flag, paving the way for further gains. The move could bring SOL to the 200-day exponential moving average near $120 as part of a mean-reversion trajectory. The RSI sits around 60, indicating bullish momentum is picking up.
An additional 4x opportunity exists if SOL retreats to $90, with a potential entry there and a path to $100, supported by a stop below $88.50. However, a break below $85 could invalidate the setup and turn the move into a fakeout. In the four-hour view, volumes spiked above average as institutional and whale participation intensified near the breakout. The system tracks these decisional candles, which gain relevance at key levels.
On-chain data underscores the move: ETFs linked to SOL took in about $16 million over the past four days, and network usage remains high. The Solana blockchain processed 880 million transactions, about 8% below its February record.
Solana (SOL) extended its gains after breaking the $90 barrier, rising about 7% over the past seven days. Trading volumes remained elevated, around 9% of SOL’s circulating market cap, underscoring renewed demand for Solana-based applications. A buy signal ahead of the breakout above $88 set the stage for a run toward the next resistance near $97, with an entry near $88 and a stop roughly $2 below that level; the setup reportedly paid off. The breakout above $90 also helped invalidate a potential bearish flag, strengthening the case for further upside.
On the daily chart, the breakout above $90 has effectively invalidated a bearish bull flag, paving the way for additional gains. The move could push SOL toward the 200-day exponential moving average near $120 as part of a mean-reversion trajectory, with the RSI around 60 indicating bullish momentum is gathering pace.
An additional 4x opportunity exists if SOL retreats to $90, offering a potential entry and a path to $100, supported by a stop below $88.50. However, a break below $85 could invalidate the setup and turn the move into a fakeout. In the four-hour view, volumes spiked above average as institutional and whale participation intensified near the breakout. The system tracks these decisional candles, which gain relevance at key levels.
However, a break below $85 could invalidate the setup and turn the move into a fakeout. In the four-hour view, volumes spiked above average as institutional and whale participation intensified near the breakout. The system tracks these decisional candles, which gain relevance at key levels.
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