Solana (SOL) price is still trading within a defined range due to continued indecision from both buyers and sellers. The SOL has tested support and resistance on several occasions, with a recent rejection at the upper limit followed by a slight bounce back.
At press time, SOL is trading at $90.58, marking a modest 0.82% down over the last 24 hours. Market activity remains substantial, with 24-hour trading volume recorded at $5.86 billion and a total market capitalization of approximately $52.84 billion. Despite the slight upside movement, broader participation continues to show signs of cooling momentum.
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Solana Price Faces a Strong Resistance Zone
On May 15, 2026, a well-known crypto analyst, Ali Martinez, pointed out an important technical level for the coin. Based on the analysis, $98 is still considered the critical resistance level that would validate the bull’s breakout should the Solana price close above it.
The Solana price since February has been trading within a well-defined consolidation range. The bottom line of the range stands at around $78, with the top resistance level standing at around $98. There is an equilibrium level between $88 and $98, which has been influencing the price movements.
However, recently, the Solana price touched the $98 resistance level, which was quickly rejected, causing a slight retracement but followed by stabilization. It indicates that the market might still be working on gaining some strength before testing the upper bound of the range.
Provided that the Solana price succeeds in closing above $98 per day, the technical forecasts predict a possible move toward $107 and even toward $117. Nevertheless, an inability to surpass the barrier may result in a slide back to the mid-$88 level and possibly even to the $78 support area.
Market Activity Shows Weak Momentum
Market statistics reveal that trading volumes have decreased by 16.21% to $10.73 billion, whereas the level of open interest has declined by 1.86% to $5.83 billion, reflecting lower participation and somewhat weaker market positioning.
The weighted open interest rate is 0.0026%, indicating that there is low pressure from funding and balanced leverage, which is indicative of investors’ cautious attitude toward trading and their lack of directional bias in the market.
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