Solana's price has recently approached the important resistance level of $90, with the MACD histogram turning positive, suggesting that short-term buying momentum may gradually strengthen. Nevertheless, the token has still declined by about 10% over the past month, and compared to the $293 peak reached in January 2025, the cumulative drop exceeds 70%.
Market sentiment is polarized. Some traders are optimistic about its potential to break through $110, while others believe that stabilizing above $100 in the short term remains a challenge. Notably, the activity on the Solana network continues to strengthen, with institutional investors showing increased interest in financial products based on this chain. The trading volume of DeFi News protocols, stablecoins, and memory coins remains high. Particularly noteworthy is the expanding payment application scenarios for USDC on Solana, indicating a shift from a speculative tool to a foundational infrastructure for actual payments and value transfer.
As the total market capitalization of global stablecoins surpasses $300 billion, their penetration in cross-border settlements, derivatives trading, and daily consumption continues to rise, bringing potential growth engines to Solana. Furthermore, analysts generally believe that the tokenized asset market is expected to experience explosive expansion in the coming years, and Solana, with its low fees and high throughput architecture, holds a significant competitive advantage in this field.
From a technical perspective, the current price is near the 20-day moving average, showing signs of short-term recovery, but it remains below the 50-day moving average, indicating that the medium to long-term trend has not yet turned clearly bullish. The Bollinger Bands have begun to expand after a period of narrow consolidation, typically signaling that the price is about to experience significant volatility. If Solana can break through and close above $90 with volume, the next target range may point to $95 to $100; conversely, if it encounters an effective pullback, it may test $85, with stronger support around $78. In summary, $90 has become a critical watershed for determining future trends, and whether it breaks through may decide if the market enters a new upward phase or returns to a consolidation pattern.