Solana (SOL) has rebounded in price and reclaimed the $90 level amid positive signals from the altcoin. This comes as a golden cross setup has formed on the asset’s technical chart. As per CoinMarketCap data, the development pushes Solana’s gain over the last seven days by 3.71%.
Can Solana bulls push price to $96?
Generally, investors interpret a golden cross as a bullish signal. The technical indicator forms when a short-term moving average crosses above a long-term moving average. If this bullish signal occurs amid increased volume, investors anticipate a price rally.
Although Solana’s volume remains in the red zone, the golden cross setup is riding on the weekly gains to post positive returns. This has supported SOL’s jump above the $90 price level. Solana succeeded in breaching the crucial resistance as it climbed from a daily low of $88.24.
Solana Price Chart | Source: TradingView/CoinMarketCapAs of this writing, Solana changes hands at $90.76, which represents a 0.47% increase in the last 24 hours. The trading volume is still struggling and down by 27.33% to $2.57 billion.
However, this outlook is likely to change as the price growth is supported by on-chain activity and not mere speculative trading.
If the bullish sentiment driving the current rebound lingers and the $89.50 support holds, Solana could retest the $96 resistance in the coming days. For this to happen, the asset will require increased volume as its present drop is limiting its upward movement.
Once investors and traders support and actively engage with SOL, it might witness a breakout toward the next crucial resistance level.
DeFi activity and tokenization boost Solana ecosystem
Meanwhile, DefiLlama data indicates that Total Value Locked (TVL) has reached $6.903 billion, a 0.67% increase over the last 24 hours.
Additionally, Solana’s real-world asset tokenization has hit a new all-time high (ATH) of more than $1.8 billion in value. This signals capital flow and productivity in the Solana space, factors that could support more price action.
At the start of 2026, market observers had high hopes for Solana given that it is a leading Layer-1 network with massive on-chain activity. Asset manager 21Shares had predicted that the coin could hit $197 in a bullish scenario. That was about a 57% price increase from its market price of around $123 at the time.
Interestingly, the asset manager projected that in a bearish market, Solana could dip by 23% to $95. SOL currently trades slightly below this prediction, but it shows how close the asset manager was in determining the price trajectory.
Source: https://u.today/solana-sol-reclaims-90-amid-golden-cross-setup-wheres-price-heading
