$SOL has broken upwards from the lateral range of the last weeks, driven by strong volume and renewed institutional interest. The price surpasses the resistance of $90 and now seeks to consolidate above it, although the zone of $95-$100 presents itself as the next major hurdle to overcome.
📊 RSI (14): 62 → in bullish momentum zone, gaining traction without yet reaching overbought territory, which suggests that the rally could have further room.
📈 MACD: The MACD line has bullishly crossed above the signal line, with the histogram in positive expansion, confirming the acceleration of the short-term trend.
📉 Price: trading above $90.50, exceeding the short-term averages (SMA-7 at $85.89) and challenging key resistance. It remains below the SMA-50 at $102.51, which is the next major target.
📊 Volume: $6.81 billion in 24h, 48.59% above the monthly average. This record volume validates the breakout and reflects strong buyer participation, including institutional investors.
🟩 Immediate support: $88.50–$90.00 (now acting as support after the breakout and upward trend line on the hourly chart). Below that, the next key support is $85.00.
🟥 Resistance: $95.00–$100.00 (next significant resistance zone). Strongly surpassing $100 would open the door to testing higher levels, such as $108-$112.
📌 Conclusion:
The market has given a clear signal of strength. The breakout above $90, backed by exceptional volume and positive flows in ETFs (with an inflow of $19 million on the day), has improved the short-term technical outlook. The 14% increase in the last 24 hours and the 17% growth in new network directions add positive fundamentals to the move. The bias is now bullish in the short term, as long as SOL remains above $88.50. The market will need to consolidate these gains and surpass $95 to aim for the psychological resistance of $100. A failure to stay above $90 could indicate a possible bullish trap, bringing the price back to the previous consolidation zone.
🔥Here is where the next move is decided🔥
