- Solana price trades above $90 with momentum building toward $100
- More than $50M in short liquidations sit above current SOL levels
- Bitcoin price action remains the main catalyst for Solana strength
Solana price is holding firmly above the $90 breakout zone as traders monitor rising bullish momentum across the market. Analyst Inmortal noted that SOL is showing relative strength and could outperform if Bitcoin begins another major rally. At the same time, futures data reveals more than $50 million in potential short liquidations above current levels, increasing the possibility of a short squeeze. With resistance near $100 and macro focus shifting toward the upcoming Federal Reserve update,
Solana Price Holds Strength as Bitcoin Momentum Becomes Key
Solana price is trading near $92 after gaining 4.26% over the past 24 hours. Analyst Inmortal stated that Solana price is showing strength at current levels. He added that SOL could outperform if Bitcoin begins another strong upward move. This view is based on Solana’s historical tendency to react strongly during BTC rallies.
The current Solana price structure reflects growing momentum after recent consolidation. Chart data shared by the analyst shows a steady upward trend developing over time. Traders are now watching Bitcoin closely as the main catalyst for the next move.
If Bitcoin gains momentum, Solana price may accelerate faster than larger assets. However, failure from BTC could weaken the bullish setup for SOL.
Solana Price Faces Key Resistance With $50M Liquidation Risk
Solana price is also holding above an important breakout zone near $90. Perpetual futures data shows more than $50 million in potential short liquidations above current levels. This creates conditions for a possible short squeeze if buyers maintain pressure.
Data from Birdeye shows liquidation clusters extending between $100 and $110. When short positions get liquidated, exchanges buy back assets automatically. This process can push the Solana price higher within a short period.
At the same time, trader positioning remains mixed across different market groups. Data shared by Inno on X showed expert traders leaning bearish while intermediate traders remained bullish. Open interest also increased to $349.2 million, reflecting rising leveraged activity.
Technically, Solana’s price must hold above the $90 breakout area to maintain momentum. Resistance currently sits between $96 and $100. On the downside, failure to hold support near $85 could trigger another consolidation phase.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.