Solana Crosses $94, but $5.8B Is Still on the Line

Solana (SOL) surged past $94 on Friday and briefly traded above $100, driven more by derivatives than spot demand. The daily SOL/USD chart shows a reversal from the $74 area near a 0.382 Fibonacci retracement. After reclaiming the 50-day moving average around $77 and the 100-day average near $76, SOL moved above the 200-day level at $81, paving the way toward $83 and the psychological $90. Price broke above $90 resistance, topped out around $102, then pulled back to roughly $94. A daily close above $90 would strengthen the breakout case; a drop below it would shift focus to $83, then $79. CoinGlass data highlighted futures volume at about $19.33 billion versus spot turnover of $1.88 billion, leaving the move more vulnerable to liquidations. Open interest stood near $5.81 billion, and 24-hour liquidations totaled about $108.35 million. The daily RSI hit 83, placing SOL in overbought territory.