Solana (SOL) rose to $96.53 and moved close to the $100 level as its open interest approached a yearly high. Analysts say that combination often reflects strong bullish positioning, but it also points to heavier use of leverage, which can make short-term price action more unstable.
Leverage builds as SOL approaches a major resistance level
The report notes that open interest nearing an annual peak suggests more aggressive leveraged positions are entering the market. A rally can look strong under those conditions. It can also reverse sharply if crowded long positions begin to unwind. For SOL, $100 stands out as the immediate resistance level. A clean move above it could keep upside momentum intact, while an excessive buildup in leveraged longs could leave the market exposed to sudden selling pressure.
Analysts map the next target zone at $110.82 to $138.80
Chart structure has turned clearly positive since SOL recovered from its autumn low. More Crypto Online said SOL recently broke above its accumulation range and has maintained a technically bullish setup. The next resistance zone is placed between $110.82 and $138.80, aligned with the 100%, 123.6%, 138%, and 161.8% Fibonacci extension levels. If buyers keep control, that area is being watched as the main target in the current wave structure.
On a broader timeframe, the report lists additional resistance at $119.37, $142.00, $168.92, $216.29, and $250.94. As price moves closer to those upper levels, the chance of stronger selling pressure may increase.
Support levels remain in focus if the rally weakens
The downside scenario is also defined. Support sits at $62.42 and $43.22, while a more important support band is marked between $48.78 and $31.95 in the event of a deeper decline. That scenario would come into view only if the current rally fails and SOL loses key support levels.
For now, buyers appear to retain control as SOL trades away from recent lows. The next major test is the $110 to $138 area, where price action is expected to show whether the current advance can continue.