Solana price is nearing the key $90 resistance level as the MACD histogram turns positive, hinting that short-term momentum may be shifting in favor of buyers.

Solana (SOL) was trading around $84.53 at the time of writing, down about 6.5% in the past 24 hours. The crypto market has cooled after a brief rebound, but Solana is still holding near the upper end of its weekly range of $77.47 to $93.40.

Over the past month, the token has lost roughly 10% of its value and remains about 70% below its January 2025 high of $293.

Trading activity has slowed. According to CoinGlass data, derivatives volume dropped 17% to $13 billion, and open interest fell 5.5% to $5 billion. This suggests that some traders are stepping back from leveraged positions as volatility persists.

Solana analyst views

Still, there are signs of short-term optimism. Analysts say that if buying pressure picks up, Solana could test the $95–$105 range in the coming weeks. Breaking above $100 is possible, though the market is still cautious, and price swings continue to be sharp.

Traders’ expectations are mixed. Some traders expect Solana to push past $110, while others think it might struggle to stay above $100 in the near term.

Network activity has been strong. More institutions are investing in Solana products, and activity in DeFi, stablecoins, and memecoins continues. Payment options using USDC are also growing on Solana, showing the network is being used for real-world transactions, not just trading.

The stablecoin market, now worth over $300 billion, could help Solana’s growth. Stablecoins are increasingly used for cross-border payments, derivatives, and everyday transactions.

Analysts also see long-term potential in tokenized assets, which could grow a lot in the coming years.

Solana price technical analysis

Solana is approaching $90, a key resistance level that has caused selling in recent weeks. The MACD histogram has turned positive, which points to short-term momentum building.

The price is near the 20-day moving average, showing some recovery, but it is still below the 50-day moving average, so the medium-term trend isn’t bullish yet.

Volatility may increase. Bollinger Bands are starting to widen after a quiet period, often a sign that bigger price moves could come. If Solana breaks and closes above $90 with strong volume, the next target could be $95 to $100.

On the other hand, a rejection here could see it fall back toward $85, with stronger support around $78. Right now, $90 is a critical level. How Solana reacts could determine whether it sees a breakout or settles into another period of sideways trading.