According to latest data, Solana (SOL) price has gained 3.90% in the past 24 hours to reach $88.80, building on its 10% weekly gain and pushing the token toward the $100 resistance level. The token has managed to establish a higher base above the $80 support zone, which has now held for several weeks. However, the $90 region continues to act as a key resistance zone, with previous rallies repeatedly losing momentum around the same level since late March.
On the daily chart, Solana continues to trade within a broader consolidation structure after recovering sharply from its February lows near the $68 region. The token is currently trading around the $89 region, slightly above its 20-day, 50-day, and 100-day simple moving averages, which are beginning to converge near the $85–$87 range. According to the analysis, such compression in moving averages often precedes a stronger directional move once price breaks decisively out of consolidation. The RSI has risen to around 71, indicating high buying activity in the market, while the MACD indicator generated a bull market crossover on the 4-hour chart with increasing green histogram bars showing good positive momentum.
Solana co-founder Anatoly Yakovenko announced at Consensus Miami 2026 that the Alpenglow upgrade will enhance transaction confirmations throughout the network, with release planned before the end of this year and potentially in the next quarter if development progresses well. As per CoinDesk reports, the upgrade aims to optimize transaction finality and confirmation reliability, bringing confirmations nearer to real data transmission capacities to improve efficiency for large-scale financial applications. The changes will enhance transaction time guarantees and provide more consistent confirmation times during network activity.
Solana recorded strong growth across its derivatives market with trading volume climbing 78.75% to $12.92 billion during the latest session. Open interest increased 10.03%, rising to nearly $5.55 billion across exchanges, while options trading posted the biggest jump, surging 194.40% to $17.72 million. At the time of writing, SOL price was near $88.83 after the modest increase in the past 24 hours. The immediate resistance is around the $92 level, with the next resistance targets potentially around $96 and then $100 if buyers decisively take out the $92 zone.
The broader crypto market has stabilized with Bitcoin trading above $81,000 and Ethereum near $2,300, supporting renewed confidence across major altcoins. However, Solana continues to trade well below its downward-sloping 200-day SMA near the $115 region, indicating that the higher timeframe trend has not fully turned bullish yet. On the downside, Solana price remains under strong support at $85, which is important and if breached could lead to deeper correction to $80.
