Solana Breaks Above $90 After Massive Short Squeeze

Overview

• SOL climbed about 25% over the past week to clear the $90 level and briefly test the $95–$100 area, driven by a sharp rise in trading volume to roughly $9.5 billion.
• More than $4.6 billion of short positions were liquidated over several days, including a roughly $2.9 billion single‑day wipeout that forced a cascade of forced sales.
• The SEC’s new proposal for a crypto regulatory framework arrived at the same time as the price move, and net inflows into Solana‑linked ETFs reached about $38 million, signaling returning institutional demand.
• An on‑chain bullish signal — the 30‑day/50‑day moving average crossover for daily active users on Santiment — reappeared, a pattern that has historically preceded large SOL rallies.
• Those gains now face clear downside risk as indicators show overbought conditions and an early intraday pullback to about $91.89, with analysts watching $83 and the 200‑day EMA as key supports that would determine whether the rally holds or retraces.