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Points of Focus
- Solana traded near $90.26 after reclaiming $90, extending its seven-day gain to 18%.
- SOL moved back above its 200-day EMA near $89.13, putting a key long-term trend level back below price.
- CoinGlass showed $11.71 billion in futures volume, $1.21 billion in spot volume, and $5.88 billion in open interest.
Solana (SOL) traded near $90.26 on Friday after reclaiming $90, extending its seven-day gain to roughly 18% and moving back above its 200-day EMA near $89.
The rebound accelerated from the $75-$76 area earlier this week as crypto prices moved higher. It also followed the US Treasury’s Aug. 19 decision to raise long-end liquidity-support buybacks from $2 billion to at least $4 billion per operation beginning Sept. 9.
Solana reclaims $90 and 200-day EMA
SOL’s move above $90 and the 200-day exponential moving average (EMA) puts the price back above two closely watched long-term levels. The reclaim improves the technical setup, though a daily close above the EMA would carry more weight than an intraday move.
Momentum has also strengthened sharply. SOL’s 14-period relative strength index (RSI) stood at 76.98, above the 70 threshold commonly associated with overbought conditions. That leaves SOL with strong upside momentum but also raises the risk of a short-term pullback after the weekly rally.
Crypto analyst Ali Martinez flagged a SuperTrend signal on X on July 15, with $96 as the first upside level and $121 after that if buying pressure persisted. SOL is now within about 6% of the first target, but holding above the 200-day EMA is the nearer test after the move through $90.
SOLANA TURNED BULLISH
The ATR trailing stop has flipped below price, marking the first SuperTrend buy signal since October 10.
If buying pressure continues to build, $SOL could rally toward $96 or even $121. However, $60 remains the key level to watch.
A break below that… https://t.co/Femtlawn2r pic.twitter.com/pJSFngWZiN
— Ali Charts (@alicharts) July 15, 2026
SOL futures volume nears $12 billion after breakout
CoinGlass data showed $11.71 billion in 24-hour SOL futures volume against $1.21 billion in spot volume. Futures turnover was about 9.7 times spot, while open interest stood at $5.88 billion.
Spot activity has also increased from earlier in the week, when CoinGlass showed turnover near $267 million. The much larger derivatives market still leaves SOL more exposed to liquidations and rapid position unwinding if price moves against crowded trades.
Michaël van de Poppe, founder of MN Capital, wrote on X on Aug. 8 that SOL had formed a higher low and was strengthening for another push toward $120. The latest rally has strengthened that setup by carrying the price above $90, though $96 and the 200-day EMA remain closer reference points for the current move.
$SOL holds an important level of support, indicating that it's made a higher low and is strengthening for the next push upwards to $120. pic.twitter.com/ZXVa766RUm
— Michaël van de Poppe (@CryptoMichNL) August 8, 2026
At $90.26, SOL trades about 1.3% above the $89.13 200-day EMA, with CoinGlass open interest at $5.88 billion.
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