What to know:
- Solana price climbs 4.28% to $93.04 as bullish momentum strengthens after a key resistance breakout.
- Crypto analyst says SOL’s breakout looks convincing following weeks of sideways consolidation.
- Technical indicators remain bullish, with RSI rising to 67.47 and MACD signaling increasing buying pressure.
Solana price continued to increase, due to increased buying interest and bullish technical signals. The breakdown above a significant level of resistance has had a positive impact on market sentiment in the short term, with traders waiting for a move to $100.
At the time of writing, SOL is trading at $93.22 with a 24-hour trading volume of $6.55 billion and a market capitalization of $53.73 billion. The SOL price has gained 4.28% over the past 24 hours, showing renewed strength after several weeks of sideways movement.
Source: CoinMarketCap
Also Read | Bitcoin Price Holds $80,000 Support as Bulls Eye $100,000 Breakout Target
Solana Clears Major Resistance Barrier
A well-known crypto analyst, BitGuru, shared a positive outlook on the Solana price on May 9, 2026, noting that the latest breakout seems clear and convincing. BitGuru observed that investors were finally able to break past the critical resistance level after an extensive period of consolidation.
Source: BitGuru’s X Post
Furthermore, BitGuru said that momentum is currently gaining rapidly, thus potentially fueling more gains in the near-term future. While Solana’s price stays above its nearest support zones, there are strong chances that the upward momentum will continue.
Solana Price Momentum Turns Positive
There is now more positive momentum on the Solana price because of improvements in a few key technical factors. The RSI has increased to 67.47 and is significantly higher than its moving average of 52.44. This suggests that buying pressure is rising.
Moreover, SOL is trading above the support level of the MA Ribbon in the range of $85.17 to $86.45. Trading above the mentioned range would be a positive development for SOL bulls.
Source: TradingView
Additionally, the MACD indicator is becoming positive as well, since the MACD line is at 0.89644 while the signal line stands at 0.40557. The green histogram bars are rising, indicating that the bullish momentum is gaining strength as the price action remains sideways for weeks now.
Overall, in case the buying pressure persists at the same rate, investors expect the Solana price to test the psychological resistance at $100 in the coming sessions.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read | Zcash Boosts Bitcoin Privacy with 2026 Quantum Upgrade
Be the first to comment