Solana Price Eyes $100 as ETF Demand Boosts Momentum

Key Insights

• Solana climbed above the $90 resistance zone as ETF optimism and rising futures activity strengthened bullish market momentum this week.

• Network activity improved across Solana as decentralized exchange trading and memecoin volumes rebounded sharply during the recent market recovery phase.

• Technical indicators showed buyers maintained strong control after SOL held above critical support levels near the important $93 trading region.

Solana extended its recovery this week as buyers continued driving the token toward the closely watched $100 level. The cryptocurrency traded near $94 on May 13 after briefly climbing above $96 during the session, reflecting stronger market confidence across the broader Solana ecosystem.

Besides improving price action, traders closely monitored rising institutional demand connected to newly launched U.S. spot Solana exchange-traded fund products. Market sentiment also strengthened after developers continued advancing the network’s upcoming Alpenglow upgrade, which investors expect could improve transaction efficiency and scalability.

Ecosystem Activity Supports Recovery

Activity across the Solana ecosystem also improved during the recent rebound as decentralized exchange volumes gained momentum again. Meme coin trading increased steadily over recent weeks, while stronger derivatives positioning highlighted renewed confidence among short-term traders.

Additionally, futures open interest climbed alongside positive funding rates, signaling that bullish positioning continued expanding across the derivatives market. Investors also reacted positively to recent Firedancer developments, which reinforced long-term expectations surrounding network performance and stability.

Technical Indicators Maintain Bullish Signal

On the daily chart, Solana recently moved above the important resistance cluster near $90.63 before rallying toward the $96 to $100 range. However, sellers started becoming more active as the token approached the upper resistance zone, slowing momentum during intraday trading.

Source: TradingView

Significantly, SOL continued trading above the major pivot reversal zone near $93.75 while remaining comfortably above long-term support around $75. Buyers previously defended that region aggressively during earlier corrections, helping establish a stronger foundation for the latest rally.

Traders Watch the $100 Level

The Aroon indicator continued signaling strong bullish momentum as the Aroon Up reading held above 85 percent while the Aroon Down remained near zero. Consequently, traders viewed the indicator setup as confirmation that buyers still controlled the short-term trend.

Meanwhile, Solana approached the 7 by 8 Murrey Math resistance level near $96.88, which traders often monitor as a possible reversal area. A successful breakout above that level could clear the path toward the psychological $100 mark, followed by the next resistance zones near $103 and $106.