Solana Price Rallies to Five-Week High Amid Market Recovery

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Mar 16 2026

Should l Buy SOL?

Price Surge: Solana (SOL) surged nearly 7% to $94.07 on Monday, marking a five-week high, primarily driven by Bitcoin's breakthrough of the $74,000 psychological resistance, indicating strong market-wide recovery momentum.
Short Squeeze Support: The price experienced significant short squeeze support near $90, forcing traders to cover short positions, which accelerated the price increase and intensified buying pressure in the market.
ETF Inflows: Solana's spot ETFs recorded their fifth consecutive week of net inflows, bringing in an additional $106 million, which has boosted investor sentiment surrounding the token, indicating increasing market demand for Solana.
Technical Analysis: The Solana price is testing a breakout from an ascending parallel channel, with the 20-day simple moving average nearing a bullish crossover with the 50-day, a signal that historically suggests the onset of a sustained uptrend.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	72.079	78.595	84.649	91.165	97.219	103.735	109.789
Fibonacci	78.595	83.396	86.363	91.165	95.966	98.933	103.735

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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