Solana (SOL) is trading near $87–$88 on Monday, holding above its 50-day Exponential Moving Average (EMA) at $87.04. The price has recovered from a recent low near $84.55 and is testing a key resistance zone.
SOL surpassed the 50% Fibonacci retracement level of the recent drop from $89.34 to $84.55. A bullish trend line is forming with support at $86.50 on the hourly chart.
The immediate resistance sits at $88.20, which aligns with the 76.4% Fibonacci level. The next major resistance is at $90, followed by $92.
Analyst Ali Martinez highlighted that SOL is trading inside a tight Bollinger Band range on the 3-day chart, between $77 and $94. He described this zone as a “no-trade zone,” warning that chasing moves within the range can lead to choppy losses. Martinez said a confirmed 3-day candle close outside the bands is needed before treating any move as a real breakout.
Solana $SOL is ready for a big price move!
The Bollinger Bands are squeezing on the 3-day chart, creating a tight price range between $77 and $94. This high-timeframe squeeze could act like a coiled spring. The longer the price stays in here, the more energy it builds for the… pic.twitter.com/AtV8GaUwiu
— Ali Charts (@alicharts) April 24, 2026
Volume has dropped more than 23% during this consolidation phase. Lower volume during sideways price action is common, but a breakout above $94 would need stronger participation to support a move toward $100.
The Relative Strength Index (RSI) sits at 55, rising above the midline on the daily chart. The MACD and its signal line have moved into positive territory, suggesting buyers currently have the edge.
SOL is approaching the overhead resistance of a symmetrical triangle pattern near $89.00 on the daily chart. A sustained move above this level would expose the $100 psychological target, then the 200-day EMA at $113.
On the downside, the 50-day EMA at $87.04 is the first line of support. A daily close below the rising trendline near $85.99 would weaken the current structure.
SOL-focused ETFs recorded $9.44 million in net weekly inflows, following $35.17 million the prior week. Five consecutive days of net inflows have totaled approximately $1.45 billion.
Goldman Sachs disclosed a position of nearly $108 million in Solana, adding to the list of institutional data points traders are watching.
SOL futures Open Interest rose over 2% in 24 hours to $5.23 billion. The funding rate spiked to 0.0095%, indicating traders are paying a premium to hold long positions.
If SOL fails to break above $90–$94, initial downside support is at $86.50, then $85. A close below $78 could push price toward $72.
The post Solana (SOL) Price: SOL Eyes $100 Breakout — Here’s the Level Traders Are Watching appeared first on CoinCentral.
