$SOL at $89.78: Breakout or Breakdown? My Complete Technical Analysis 📊
Solana $SOL is testing a critical level right now at $89.86 after bouncing from $87.60 low. As a Layer 1 competitor to Ethereum, SOL moves fast - both up and down. Here’s my breakdown of where it could go next:
**Bullish Signals That Favor Upside:** ✅
1. Above All Major MAs
Price is trading above MA(7) $89.65, MA(25) $89.57, and MA(99) $88.93 on the 3m chart. This alignment shows strong short-term momentum with buyers in control.
2. Order Book Shows Demand
Current order book: 65.41% Buy vs 34.59% Sell. When 2 out of 3 traders are buying, that’s serious bullish pressure building up.
3. Higher Low Structure
SOL bounced from $88.44 and made a higher low, then pushed to $89.79. This is a classic sign that sellers are exhausted and buyers are stepping in.
Bearish Risks You Must Know: ⚠️
1. Long Term Downtrend Still Active
Zoom out: SOL is down -38.69% in 1 Year and -43.06% in 180 Days. Many holders from $200+ are still underwater and may sell into strength.
2. Volume Drying Up
Look at the volume bars .....!
My Game Plan for $SOL: 🎯
Scenario A
Bullish Breakout: If $89.86 breaks with volume, next targets are $91.50 then $95.00. I’d consider this a continuation of the short term uptrend.
Scenario B
Rejection: If we fail here, first support is MA(99) at $88.93, then $88.44, and major support at $87.60. A breakdown below $87.60 could send SOL to $85.
I’m personally neutral right now. I want to see a clean break of $89.86 or a dip to $88 to buy. Chasing at resistance is risky.
What’s your take on $SOL? Are you buying the breakout or waiting for a pullback to $88? What’s your 2026 price target for Solana? Drop your thoughts below 👇
Disclaimer: This is not financial advice. I’m sharing my personal technical analysis for educational purposes only. Crypto is highly volatile and risky. Always do your own research (DYOR) before making any investment decisions.
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