Overview
- Solana, trading near $92 on Wednesday, is clinging to the $90 level that many traders say will decide a push toward $100–$120 or a drop to lower support.
- Short‑term signals lean positive, with SOL above the 100‑hour moving average and momentum gauges like RSI holding over 50 on some time frames.
- Trading activity rose about 30% over the past month to roughly $4–$5 billion in daily volume, while Artemis data shows weekly on‑chain transactions down 20% to about 774 million.
- More than $370 million in short positions were liquidated during the latest bounce, which could fuel another squeeze if buyers keep pressing.
- Coverage splits on drivers, with crypto.news pointing to congestion fixes and the planned Alpenglow upgrade as tailwinds, while others flag fragile conviction and nearby hurdles at $96–$100.