Solana (SOL) surged more than 5% to a high of $97.67 after clearing the $92 resistance level, with traders now watching the $98 and $100 zones as the next key upside targets.
Token Tests $98 Ceiling
The rally began after SOL settled above the $88 zone, tracking broader gains in Bitcoin (BTC) and Ethereum (ETH). The token pushed through the $95 resistance before pulling back slightly.
SOL is now trading above its 100-hourly simple moving average, with a bullish trend line providing support at $94 on the SOL/USD pair. On the upside, $98 stands as the next major resistance, followed by the psychologically significant $100 level.
A sustained close above $100 could open the path toward $105 and eventually $112. On the downside, support sits at $94, with a deeper fallback level at $92 — the 50% Fibonacci retracement of the move from $86.54 to $97.67.
Also Read: Ethereum Nears Crucial $2,400 Resistance Level
Why $100 Matters
The hourly MACD is losing momentum in bullish territory, suggesting the current uptrend may be running out of steam. The RSI remains above 50, which signals buyers still have some control.
A failure to break $98 could trigger a decline toward $92 or even the $88 support zone. Should that level give way, $82 becomes the next downside target in the near term.
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