Solana (SOL) Price: Why SOL Jumped 10% and What the Charts Say Now

TLDR

• Solana (SOL) surged 10–13% in 24 hours, reaching an intraday high near $89
• Bitcoin rebounding above $67K has fueled broader altcoin momentum
• US-traded spot Bitcoin ETFs saw $258 million in net inflows on Feb. 24
• Spot Solana ETFs recorded $40 million in net inflows since Feb. 9
• Key resistance levels for SOL sit at $90, $95, and $100

Solana’s price jumped over 10% in 24 hours, climbing from a two-week low of $75 to an intraday high near $89. The move came as the broader crypto market recovered, pushing total market cap up to around $2.28–$2.38 trillion.

Bitcoin led the charge, rising more than 5% to trade around $66,800–$68,000. That recovery helped lift major altcoins across the board, with Ethereum up 8%, XRP up 6%, and Dogecoin also posting gains.

US-traded spot Bitcoin ETFs recorded $258 million in net inflows on February 24. Fidelity’s FBTC led with $82.8 million, pointing to renewed institutional buying.

Solana-specific demand also picked up. Spot Solana ETFs have pulled in $40 million in net inflows since February 9, adding to the buying pressure on SOL.

SOL’s open interest rose more than 5% to $5.27 billion alongside the price move. Short liquidations totaling $15.4 million were recorded over the same 24-hour period.

Technical Breakout in Play

On the six-hour chart, SOL broke above a symmetrical triangle pattern. The measured target from that breakout points to $110, which also lines up with the 50-day simple moving average.

For that move to hold, price needs to stay above the 100-day SMA at $86. A daily close above the 20-day EMA at $88 could open the path toward $95 and later $117, according to analysts.

Glassnode data shows limited historical buying activity above $85, meaning there are fewer holders sitting on losses in that zone. That could reduce overhead selling pressure in the near term.

The RSI was reading 72.84 at time of reporting, entering overbought territory. The MACD showed a bullish crossover with a histogram reading of around 1.20.

What Needs to Happen Next

Analysts say a sustained Bitcoin move above $72,000 could be the trigger for Solana’s next leg up toward $100.

Immediate resistance for Solana sits at $90, then $95, with $100 as the key psychological level. The next major resistance above that is around $115, where roughly 22 million SOL were previously acquired.

Macro events this week include jobless claims Thursday, the January Producer Price Index on Friday, and speeches from eleven Federal Reserve speakers.

At time of reporting, SOL was trading at $88.56, with a session high of $89.19 and a low of $85.98.

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