Solana bulls and bears clash at $90: double-top drama meets ETF hopes

After enduring a prolonged slump with nine consecutive down months, Solana initiated a notable recovery from a local bottom near $60.26, breaking out on the daily chart and bouncing off a critical trend line. This technical rebound propelled SOL toward the key resistance zone around $75, signaling a potential shift in momentum after a challenging period for the token.

This early recovery sparked renewed optimism among market participants, as buyers reclaimed several important technical levels that had previously been lost. The shift in sentiment was further bolstered by endorsements from formerly bearish influencers like Anson, who acknowledged the improving outlook, reflecting a broader change in market psychology surrounding Solana.

Adding fuel to the rally, positive news regarding a Morgan Stanley ETF update contributed to Solana's price rebound, reinforcing the approach toward the critical $75 resistance level. This combination of technical recovery and institutional interest helped revive confidence, suggesting that Solana's early recovery phase was supported by both market dynamics and influential financial developments.

Solana's price action has formed a classic bearish double-top pattern after twice failing to break above the critical $75 resistance level, signaling a potential reversal in momentum. This technical formation, combined with a rejection from the underside resistance on the daily chart, suggests traders should brace for a possible decline toward key support zones at $50 and even $34 if the bear flag scenario unfolds. The double-top pattern is a well-known harbinger of downside risk, indicating that bullish attempts have been stymied and sellers may be gaining control.

Adding to the bearish outlook, weakening network activity on Solana’s blockchain and a broader risk-off sentiment permeating the crypto markets have heightened trader caution. This shift in market dynamics is reflected in subdued volume and increased short positions from whale investors, who appear to be betting on further downside. The combination of technical resistance and deteriorating fundamentals underscores a growing vulnerability in Solana’s price, making the prospect of a neckline breakdown and a drop toward $60 increasingly plausible.

Traders are strategically positioning Solana buys within a defined range roughly between $68 and $73, balancing entry opportunities with prudent risk management by setting stop losses between $64 and $71 depending on the time frame. This approach reflects a cautious stance amid mixed signals, as spot trades with moderate leverage are favored to allow sufficient room for price fluctuations without overexposure, as highlighted by the practice of placing tighter stops near $69 for short-term plays and wider stops around $64 for longer-term holds.

Market participants are actively managing risk by planning to raise stop losses once Solana decisively breaks above the $80 threshold, signaling confidence in upward momentum while protecting accrued gains. This dynamic adjustment of stops underscores a disciplined trading methodology that adapts to evolving price action, ensuring that positions remain aligned with the bullish breakout narrative while mitigating downside exposure.

There is a palpable anticipation of a short squeeze propelling Solana’s price toward the $90 mark and beyond, with target zones extending up to $105 and even $110 as noted by traders closely monitoring resistance near $74-$75 and the critical 200-day moving average at $92. This potential rally is viewed as a tactical opportunity to capitalize on bullish momentum, with some traders explicitly forecasting a move into the $95 to $110 range, reflecting a blend of technical triggers and market positioning aimed at capturing a significant upside surge.

Solana's SOL token recently surged past a critical resistance zone between $81 and $84, reaching a 30-day high of $83 fueled by a revival in tokenized assets and memecoin activity. However, despite this momentum, bullish leveraged appetite has notably cooled, signaling trader hesitation to aggressively push SOL beyond the $90 mark. This resistance range now serves as a pivotal battleground: clearing it would affirm bulls' control, while rejection risks turning the breakout into a trap that could reopen downside toward $49.

Marking a significant technical shift, Solana flashed its first 3-day SuperTrend buy signal since October 2025, signaling a revived bullish outlook after enduring months of persistent downside pressure. This fresh buy signal suggests a potential rally targeting the $90 resistance level, highlighting renewed optimism among market participants that SOL could break through previous ceilings and sustain upward momentum.