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Solana (SOL) Price Breaks Above $90 — Can Bulls Push the Rally Toward $100?
Solana’s price has climbed back above $90, extending its recent recovery and putting the $100 mark firmly back on traders’ radar. The move comes after a period of weakness, making the latest push important for determining whether $SOL can build a sustained recovery rather than simply stage another short-lived bounce.
The rally also comes with a fresh fundamental boost from Solana’s Agave upgrade, which reduced the target slot time from 400 milliseconds to 350 milliseconds, improving the network’s processing efficiency. With $SOL now at a potentially decisive level, the focus is shifting to whether buyers can maintain the momentum and carry the rally toward $100.
ETF Inflows & Rising Open Interest Strengthen $SOL’s Breakout
The latest move in $SOL is being backed by a notable pickup in both spot ETF demand and derivatives positioning. The Solana spot ETF chart shows a sharp jump in net inflows, with the latest reading reaching roughly 170,000 $SOL, far above the inflows recorded over the preceding days. At prices near 88–90, that represents more than $15 million in fresh exposure.
Open interest has also expanded rapidly alongside the price move. From around $4.4 billion in early August, $SOL’s aggregate open interest has climbed to nearly $6 billion, with the latest reading close to $5.96 billion. The acceleration became particularly visible as $SOL moved from the mid-$70s toward $90, suggesting that traders are increasingly positioning for further upside.
The combination is significant because ETF inflows point to fresh spot demand, while rising open interest shows greater participation in the derivatives market. However, the sharp increase in OI also means the rally is carrying more leverage, making the reaction around 91–97 increasingly important. A sustained breakout could attract further positioning, while a rejection could trigger a faster unwind of crowded trades.
$SOL Price Eyes $98 After Breaking Above Key Resistance
$SOL has pushed firmly above the rising trendline, with the latest move taking the token to around $91.99 after reaching an intraday high of $93.39. The breakout is important because the price has moved back into the 91–93 resistance area that had capped previous attempts, putting the bulls in a position to challenge higher levels.
The supporting indicators are also turning more constructive. CVD has recorded a sharp positive spike alongside the latest price move, suggesting stronger aggressive buying is entering the market. At the same time, OBV has risen to around 518.67 million, reversing its recent decline and indicating that volume is increasingly supporting the upward move.
Solana Faces a Crucial Test—Can it Reach $100?
Solana’s recent recovery has gained strength, but the next move will depend on whether buyers can turn the 91–93 area into a firm support zone. The combination of strong ETF inflows, rising market participation and improving buying pressure keeps the broader setup constructive. A sustained move above $93 would put $97.78 in focus. Clearing that resistance could open the path toward the psychological $100 level, with $105.14 emerging as the next major upside target if momentum remains strong.
If the $SOL price fails to hold above $91, the first downside level to watch is around $88.61, where the rising trendline currently sits. A deeper breakdown could bring $84 into focus before buyers attempt another recovery. For now, $93 is the immediate trigger, while $100 remains the bigger prize for bulls.
Source: cryptonews.net