Solana (SOL) has delivered a breakout above the $90 resistance area on July 22, challenging a cluster of technical levels. The move is driven by the acceleration of short-term impulsive wave 1, part of the larger intermediate impulsive wave (1) that began in February.
Triple-layered resistance at $90
The $90 zone was not a simple round number. On the daily chart, it combined three barriers: the April monthly high, the downtrend line of the symmetrical triangle formed since March, and the 61.8% Fibonacci retracement of wave ii from March. Solana sliced through all three, signaling a decisive shift in momentum.
After the breakout, wave 1 has accelerated, with increasing volume confirming genuine buying interest. The internal structure shows a five-wave sub-division forming, suggesting the move has more room to run. A successful retest of $90 as support would strengthen the bullish case.
$96.80: Key target in sight
Bulls now aim for $96.80, a level that acted as strong resistance in March. If Solana reaches there, some profit-taking may occur, but the subsequent wave 3 could easily take it higher.
The broader crypto market is supportive — Bitcoin holds above $60K and Ethereum consolidates near $3,000, providing a favorable backdrop for altcoins. Solana remains one of the most actively traded layer‑1 tokens.
In related news, predictive AI network THEA raised $8 million to build a Solana-based coordination layer, adding positive fundamentals to the ecosystem. However, short-term price action leans on technicals and liquidity.
A drop below $90 would invalidate the breakout, with support at $85. For now, the technical picture clearly favors the bulls.