Solana (SOL) is trading above $90, with momentum building towards the $100 mark. The cryptocurrency has gained 4.26% in the past 24 hours, reflecting strong market sentiment. Analyst Inmortal suggests that Solana could outperform if Bitcoin initiates another major rally, given its historical tendency to react strongly during Bitcoin's upward movements.
Futures data indicates over $50 million in potential short liquidations above current levels, suggesting a possible short squeeze if buying pressure continues. Resistance is noted between $96 and $100, while support must hold above $90 to maintain momentum. Open interest has risen to $349.2 million, indicating increased leveraged activity. Traders are closely monitoring Bitcoin as a key catalyst for Solana's next move.
Solana Eyes $100 as Bullish Momentum Builds Above $90
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