Solana Price News: Ongoing Accumulation Below $90 Sets Stage for Explosive Move

Solana (SOL) has delivered a 9.3% gain in the past 7 days despite today’s retreat, which makes it the top-performing asset in the top 5 during this period.

SOL has been trading in a tight range between $78 and $90 for nearly a month now. This is typically considered an accumulation pattern, as investors have established clear buy and sell walls.

SOL/USDT 4H Chart – Source: TradingView

Whales buy at $78, sell at $90, and keep the difference – it has been as simple as that.

These patterns can be quite profitable if you can spot them early on. On February 12, the $78 level held quite well. Just three days after, SOL had moved to $90 once again.

The same thing happened on February 24. SOL bounced off $78 and rose to $92 just a day after. Are these support and resistance area going to hold up forever?

Trading Volume Spike as SOL Bounces Off $78

Consolidation patterns typically form when the market has either established a clear “fair value” range or when investors are struggling to find direction.

Yesterday, the price hit $90 again, and has been heading downwards since then. This increases the odds of a retest of the $78 level within the next few days.

Even though accumulation patterns have no clear bias, they tend to precede explosive moves once a breakout is confirmed. The question would be, what’s the most likely scenario for SOL right now?

Solana On-Chain Data – Source: Artemis

On-chain data shows that network usage has been rising once again. Weekly transaction volumes spiked from a recent low of 764 million two weeks ago to 910 million last week, meaning a 19.1% increase.

Similarly, weekly active users increased near the metric’s 2026 peak.

In addition, trading volumes for SOL rose from $22 billion to $34 billion in just a week, indicating stronger interest from buyers as the price repeatedly bounced off $78.

These higher volumes are also an early indication that a strong floor could be forming as buying interest at that level persists.

SOL Offers 63% Upside Potential If It Rises Above $90

The market as a whole is in risk-off mode amid the uncertainty caused by the Iran war. However, investors seem to be taking advantage of these depressed conditions to scoop up SOL at a price not seen since January 2024.

SOL/USDT 4H Chart – Source: TradingView

The 4-hour chart shows erratic behavior in the Relative Strength Index (RSI). We have been expecting a reversion to the mean for most cryptocurrencies for weeks. In Solana’s case, we need a clean breakout above $90 to retest the $100 level.

Meanwhile, the next target in case that psychological threshold is broken would be the $137 level, which is where the daily 200-period EMA is currently sitting. This translates into a 63% upside potential from where the token is now.

In contrast, if we get a breakout below $78, we might see SOL dropping back to $67 in the near term for a 20% downside risk.

Two Buy Signals Confirm Relevance of $78 Support

Heading to the hourly chart, we have gotten two “buy” signals in this lower time frame, and both have yielded great results.

SOL/USDT 1H Chart – Source: TradingView

The two popped up after the price hit $78, and both hit the $90 target. The first one yielded a 4.4x return and the second a 2.3x return.

We have not yet received a “sell” signal after Solana rejected the $90 resistance this last time. Hence, there have been no “decisional” candles that justify a short position.

The $82 level seems critical as the price has bounced off this mark in the past 24 hours, so we might expect the continuation of this uptrend if that level holds during today’s session.