Past 860% Rally Signal Appears Again... Solana is Not Ordinary

▲ Solana (SOL)/ChatGPT Generated Image ©

Solana is catching its breath around the $86 mark, but market attention is once again focusing on it as the weekly Moving Average Convergence Divergence (MACD) buy signal shows a pattern similar to those observed just before past major rallies.

According to TradingNews, an investment media outlet, on April 24 (local time), Solana (SOL) was trading around $86.37, down 0.43% over 24 hours. Its market capitalization was recorded at $49.74 billion, with a 24-hour trading volume of approximately $2.99 billion. While the short-term price is bearish, the key point is that the weekly Moving Average Convergence Divergence (MACD) buy signal appeared similarly to before the rallies in 2021, 2023, and 2025.

The media explained that this signal occurred before price increases of 617%, 860%, and 100% respectively in the past. Additionally, the weekly Relative Strength Index (RSI) recently dropped below 35 for the first time in 1,200 days before recovering to the 35 level. This analysis suggests that despite short-term fatigue, it could be interpreted as a signal for medium to long-term bottom formation.

Technically, breaking above $90 is the most critical turning point. Solana is maintaining support at $78-$80 within an ascending channel, and a symmetrical triangle pattern has also entered its convergence phase. If $90 is broken on a daily closing basis, there could be room for an ascent to $96, then $100, and potentially to the measured target price of $130. However, the $90-$92 range is identified as a strong resistance zone due to the concentration of approximately 9.9 million SOL at an average purchase price, indicating significant selling pressure.

Institutional inflows also support the mid-term bullish argument. Cumulative inflows into Solana spot ETFs have exceeded $1 billion, with an additional $3.28 million flowing in on April 20 alone. The assets under management for Bitwise, Fidelity, and Morgan Stanley Solana ETFs have also surpassed $1 billion, leading to the interpretation that institutional investors view periods of price weakness as accumulation opportunities.

On the fundamental side, the 'Onchain Nasdaq' initiative and the Firedancer validator client were cited as key catalysts. Solana's on-chain economy exceeded $1 trillion in Q1 2026, and 4,100 new developers joined, accounting for 23% of all cryptocurrency developer activity. However, in the short term, a break below $81 could lead to a retest of the $78-$80 support level, and further collapse could see a drop into the $70s. Thus, whether Solana breaks above $90 is presented as a crucial benchmark for determining its direction.

*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.*