Solana Targets $100 After Stabilizing at $85... Breaking 'This' Level Comes First

▲ Solana (SOL)

Solana (SOL) has broken through a major resistance level, forming strong upward momentum toward reclaiming the $100 mark.

According to a February 27 report by cryptocurrency-focused outlet NewsBTC, Solana has successfully surpassed the $80 resistance zone and is building fresh bullish momentum toward $100. Currently trading above $85 and holding above the 100-hour simple moving average, Solana is showing gradually strengthening buying pressure. On the hourly chart, a bullish trend line has formed with strong support near $82, reinforcing a stable upward trajectory.

The first key hurdle for further gains lies at the $92 resistance level. NewsBTC noted that a decisive break above $92 could accelerate the rally toward the next major target at $95, followed by a test of the psychologically significant $100 level. If Solana overcomes and consolidates above $100, the technical foundation would be set for a sharp rally toward $105 or even $112.

Technical indicators are also supporting a bullish scenario. The hourly Moving Average Convergence Divergence (MACD) is expanding its upward momentum within bullish territory, while the Relative Strength Index (RSI) remains above 50, indicating that buyers are maintaining control of the market. In particular, trading volume has accompanied the absorption of short-term supply around the $88 and $90 levels, increasing confidence in an upside breakout.

On the other hand, failure to break through the $92 resistance could lead to a temporary pullback. In the event of a decline, initial support lies near the $82 trend line, and if this level breaks, buying interest is expected to defend the key $80 support zone. Should the $80 level weaken further, the price risks falling toward $75. However, the current technical setup suggests consolidation of energy for an upside breakout rather than additional downside.

The Solana market now stands at a critical juncture as it seeks to end a prolonged consolidation range and enter triple-digit territory. Whether it can break above $95 is expected to be a decisive factor in determining the success of the upcoming short- to mid-term rally. Investors are maintaining a cautious stance, adjusting their strategies while waiting for confirmed technical signals and sustained moves above major resistance levels.

Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses resulting from it. The content should be interpreted solely for informational purposes.