Solana price surged more than 13% in the past 24 hours, riding renewed bullish momentum across the cryptocurrency market. The SOL token climbed above $89, fueling speculation that a move toward the key $100 psychological level could be within reach. Analysts suggest that further upside for Solana will largely depend on whether Bitcoin price can reclaim the critical $72,000 resistance zone.
The broader crypto market also staged a strong recovery, rising 6% to a total market capitalization of $2.38 trillion. Improved sentiment is being driven by easing macroeconomic concerns and growing optimism around U.S. regulatory developments. Major altcoins, including Ethereum, XRP, and Dogecoin, posted notable gains, reflecting a broader risk-on environment.
Bitcoin price rebounded after weeks of extreme fear and a decline toward $60,000. The leading cryptocurrency advanced more than 3%, breaking through short-term resistance levels and moving above the $67,000 mark. This breakout has strengthened bullish expectations among traders. Additionally, U.S.-traded spot Bitcoin ETFs recorded $258 million in net inflows on February 24, with Fidelity’s FBTC leading at $82.8 million, signaling renewed institutional interest in digital assets.
At the time of writing, Solana price is trading around $88.56, with a session high of $89.19 and a low of $85.98. On the four-hour chart, SOL is moving within an upward channel after bouncing from strong support near $78. Buyers defended the $80 level aggressively, stabilizing the short-term structure. Immediate resistance stands at $90, followed by $95 and the key $100 barrier.
Technical indicators support the bullish outlook. The MACD shows a positive crossover with rising histogram momentum, while the RSI at 72.84 indicates strong buying pressure, though near overbought territory. If Bitcoin sustains strength above $72,000, Solana could extend its rally and attempt a decisive breakout toward $100.
