Solana started a fresh increase above the $86 zone. SOL price is now 
consolidating near $88 and might aim for more gains above the $90 zone. SOL 
price started a fresh upward move above the $85 and $86 levels against the US 
Dollar. The price is now trading above $86 and the 100-hourly simple moving 
average. There is a bullish trend line forming with support at $87.40 on the 
hourly chart of the SOL/USD pair (data source from Kraken). The pair could 
extend gains if it clears the $90 resistance zone. Solana Price Starts Fresh 
Increase Solana price started a decent increase after it settled above the $85 
zone, like Bitcoin and Ethereum. SOL climbed above the $86 level to enter a 
short-term positive zone. The price even smashed the $88 resistance. A high 
was formed at $89.95, and the price is now consolidating gains. There was a 
minor decline below the 23.6% Fib retracement level of the recent upward move 
from the $83.27 swing low to the $89.95 high. Solana is now trading above $87 
and the 100-hourly simple moving average. Besides, there is a bullish trend 
line forming with support at $87.40 on the hourly chart of the SOL/USD pair. 
On the upside, the price is facing resistance near $89. The next major 
resistance is near the $90 level. The main resistance could be $92. A 
successful close above the $92 resistance zone could set the pace for another 
steady increase. The next key resistance is $100. Any more gains might send 
the price toward the $102 level. Downside Correction In SOL? If SOL fails to 
rise above the $90 resistance, it could start another decline. Initial support 
on the downside is near the $87.40 zone. The first major support is near the 
$85.80 level and the 61.8% Fib retracement level of the recent upward move 
from the $83.27 swing low to the $89.95 high. A break below the $85.80 level 
might send the price toward the $83.20 support zone. If there is a close below 
the $82 support, the price could decline toward the $76.50 support in the near 
term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace 
in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for 
SOL/USD is near the 50 level. Major Support Levels – $87.40 and $85.80 Major 
Resistance Levels – $89.00 and $90.00.

Solana (SOL) Strength Improves, $90 Resistance Keeps Traders Cautious

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On Wednesday, Bitcoin reached its highest level since January, crossing above 
the $82,000 threshold. However, one analyst has warned that the latest upswing 
may not be driven by genuine demand. Instead, he describes it as a so-called 
&#8220;speculative trap&#8221; and points to signals suggesting there may be little 
underlying momentum before the market potentially retraces sharply. $83,000 
Condition For Bitcoin In a post on X (formerly Twitter), market analyst 
OxPepesso argued that BTC is moving in a way that looks similar to the “S&amp;P 
500 AI bubble,” implying that Bitcoin is largely tracking broader stock-market 
sentiment rather than showing distinct, organic crypto drivers. OxPepesso 
suggested that, with the equity market surging, Bitcoin is essentially being 
pulled along as risk appetite rises—rather than benefiting from meaningful, 
independent on-chain or spot demand. Related Reading: Ripple CEO Warns: If 
CLARITY Act Markup Slips, Chances Fall ‘Precipitously’ The core of the 
analyst’s skepticism centers on what he says is happening beneath the price 
action. According to OxPepesso, network activity has just hit a two-year low, 
and actual spot demand is “literally negative.” In his view, that combination 
would mean the rally lacks the kind of real buying pressure that usually 
sustains higher prices. He added that the current push appears to be propped 
up by futures speculation, and warned that a single geopolitical development 
could quickly sour sentiment—potentially crashing both markets at once. Until 
Bitcoin reclaims its previous range low above $83,000, according to the 
analyst, the rally should be treated as a fakeout—not a durable trend. In that 
analogy, he cited a range high around $94,500 that was previously reached, 
rejected, and then “flushed” down into what he described as a weaker bottom 
near $60,000. The analyst’s key condition is clear: a clean daily close above 
$83,000 would “flip the rally real,” while anything below it, in his 
framework, could set up the market for a sharp drop. Seller Pressure Ahead? 
While OxPepesso’s remarks emphasize caution, another lens on the market comes 
from blockchain analytics firm CryptoQuant, which highlighted data points it 
says align with an attempt at structural improvement. In a new report, 
CryptoQuant noted that Bitcoin has broken above the True Market Mean at 
$78,200 and the Short-Term Holder Cost Basis at $79100. CryptoQuant’s 
interpretation is that maintaining holdings above these levels could signal a 
short-lived deep value phase, and it also pointed to $85,200 as the next key 
resistance area. Related Reading: Strategy Reports Q1 Results: Over $12 
Billion In Red Ink—Here Are The Key Figures Contrary to OxPepesso’s analysis, 
the firm also said that spot demand and Exchange-traded fund (ETF) inflows are 
rebuilding, which it interprets as bulls still having control—at least for the 
moment. Still, the report emphasizes that Bitcoin is approaching a ceiling 
where additional supply may re-emerge, making the next phase more about 
whether buyers can keep pace as price reaches zones where sellers are likely 
to become more active. At the time of writing, Bitcoin had retraced toward 
$81,538 following its earlier push above $82,000 on Wednesday. Featured image 
from OpenArt, chart from TradingView.com

Solana (SOL) Strength Improves, $90 Resistance Keeps Traders Cautious

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