Is Solana Bottoming Out? Macro Structure Hints At Strong Upside Move

TL;DR

• Solana targets the critical $100 psychological barrier with strong bullish momentum.
• The weekly chart shows a powerful macro bottom signal with higher lows.
• Goldman Sachs led a massive $107 million investment into Solana ETFs.

Solana ($SOL) trades in a defined range as traders assess a near-term move toward the $100 level. At the time of writing, the token changes hands between $93.50 and $95.66, with price action maintaining upward pressure during recent sessions.

In the short term, analysts place their base case between $100 and $105 before the end of March. This projection follows a sequence of higher lows formed since early March, a pattern that shows buyers accepting higher prices over time. In direct terms, demand holds while selling pressure weakens, which supports continuation.

$SOL moved above $92, which had acted as resistance, and now traders track the next barriers at $96 to $98, followed by the $100.15 level. A break above $100.15 with volume can open the path toward $105 and $110, based on current positioning.

The Relative Strength Index holds near 59 to 62, which places it in a neutral-to-bullish zone with room for continuation. At the same time, the MACD shows a pause in momentum. This type of pause often appears before continuation moves, although short consolidation remains possible.

Goldman Sachs participated in a $107 million allocation linked to Solana exchange-traded products, while total institutional inflows reached $540 million in the last quarter. This capital base tends to reduce downside volatility, as it represents longer holding periods.

A Balanced Look at the Bull and Cautionary Cases

As $SOL approached $94, more than $16 million in short positions were liquidated. Short liquidations force buybacks, which add direct demand and accelerate price movement in the short term.

New projects continue to launch, and transaction fees have increased alongside usage, indicating ongoing throughput. At the same time, the Network Value to Transaction (NVT) ratio shows price growth outpacing on-chain activity, which can precede corrections under certain conditions.

From a risk standpoint, the structure remains intact while $SOL holds above $90 to $92, which acts as immediate support. Below that, a stronger floor sits between $88 and $89.50. A drop below $88 would weaken the current trend and expose $85, based on current levels. On the upside, a confirmed move above $100 shifts attention to $105 and potentially $110 to $116.

Questions around U.S. classification of digital assets continue to influence long-term positioning, particularly among institutional participants.

For now, Solana trades at a decision point below $100, where resistance and support define the next move. If buyers sustain pressure above $100, the path toward higher levels remains open; if not, consolidation may extend before another attempt.