Solana (SOL) is currently trading at $91.39, showing a gain of 0.78% over the last 24 hours, as per CoinGecko data. The token’s 24-hour trading volume has reached $10.84 billion, with a market capitalization of $52.07 billion and 2.13% dominance.
SOL has risen 3.5% over the past week, showing signs of recovery, but it is 13% down on the monthly level and 70% down on the ATH of $293.31, which it achieved in January 2025, indicating that there is much room for the cryptocurrency to recover.
Next Resistance for Solana Set at $115
In his latest post, crypto analyst Ali Charts mentioned the key levels for Solana (SOL). According to his tweet, Solana has managed to trade above the level of $85.55, indicating positive momentum for the cryptocurrency.
The next level of resistance for Solana is at the level of $115.04, which may cause the cryptocurrency to dip down to the level of $85.
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Rejection Could Shift Focus Toward $85
Market analysts are noting that the price is nearing a key $92 to $97 range, a level that has served as support in the past and now has the potential to act as resistance.
This range is a key level because it corresponds to a 38.2% to 50% Fibonacci retracement level of the $120 swing high and $80 swing low, making it a key level for price action in the near term.
Derivatives markets are becoming increasingly active, according to CoinGlass, with a 24% rise in trading volumes to $17 billion and a 7% rise in open interest to $5.26 billion. This indicates that traders are entering positions as the price nears a key price level.
In technical analysis, the Relative Strength Index is moving higher from its oversold position and nearing the 50 level, where it may potentially stall and resume its decline, limiting the price rebound.
The price has been moving higher on moderate trading volumes, indicating that the price rebound may be a corrective move and not a reversal in the overall trend.
If the price can break and sustain above the $95 level, the price levels above $95 are in the $105 to $110 range, while a rejection at the $95 level will likely cause the price to fall and test the $85 support level, a key level for market watchers in the near term.
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