Solana Breaks 200‑Day Average as Rally Tests $90–$100

A short‑covering surge driven by US Treasury buyback expansion and renewed ETF flows lifted SOL but heavy futures activity leaves the move vulnerable unless $87–$90 holds

Overview

The token climbed more than 19% this week and cleared the 200‑day moving average, with intraday highs reported in the $91–$102 range and price testing the $90–$100 zone.
The advance followed a US Treasury decision to double certain long‑dated buyback operations, a development that eased liquidity concerns and helped boost risk appetite in markets.
Spot SOL ETFs recorded three days of inflows, including a $14.58 million net inflow on Thursday, providing some cash‑market support even as derivatives dominated the move.
A rapid short squeeze erased over $4 billion of bearish positions and sent futures volume and open interest sharply higher, leaving the rally sensitive to forced liquidations if leverage unwinds.
The breakout will need daily closes back above roughly $87–$90 and stronger spot buying to be durable, and traders are watching stretched momentum indicators and funding rates for signs of a reversal.