Solana Nears $90 Breakout Amid Easing Middle East Risks…Can It Re-enter $100?

▲ Solana (SOL)/AI generated image ©

As Solana (SOL) is on the verge of breaking the $90 resistance level, the market is discussing the possibility of re-entering the $100 mark before May.

According to cryptocurrency media Watcher.Guru on April 22 (local time), Solana has continued its bullish trend, rising 2.6% in the last 24 hours. It has also recorded gains of 6.1% over the past week, 4.1% over 14 days, and 2.5% over the past month. The price is once again approaching the $90 resistance level that it tested last week.

This surge is intertwined with a broader shift in market sentiment. As Bitcoin (BTC) recovered to the $78,000 level for the first time in about three months, investor sentiment rapidly improved, creating a ripple effect across major altcoins. In particular, expectations of US-Iran nuclear negotiations and the possibility of easing tensions are believed to have stimulated demand for risk assets, acting as a driving force for the rally.

Furthermore, expectations regarding monetary policy are also acting as a variable. With President Donald Trump nominating Kevin Warsh as the head of the Federal Reserve starting in May, the possibility of interest rate cuts is coming into focus. If both interest rate cuts and geopolitical risk mitigation materialize simultaneously, overall market liquidity could expand, strengthening the scenario of Solana recovering to $100.

However, the market is not yet completely stable. If Middle East tensions escalate again or negotiations fail, investor sentiment could quickly contract, in which case Solana could fall back into the early $80 range. While the current trend is a recovery phase, volatility risks remain valid.

Ultimately, the short-term direction depends on whether it breaks through $90. If it successfully breaks above this level, the expectation of re-entering $100 could materialize, but if it is blocked by resistance, the possibility of continued range-bound fluctuations cannot be ruled out. The market trend over the next few days is expected to be a critical turning point that will determine the mid-term trend.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*