- Solana price has risen in the past 24 hours as Bitcoin retests $72,000.
- The SOL token could rally to $150 amid a US‑Iran ceasefire.
- However, continued weakness could allow bears to target $70 or lower.
Solana’s recent rebound has rekindled bullish sentiment, with solid gains tracking an overall pickup in risk appetite across markets.
Traders are weighing the potential impact of reduced geopolitical tensions following the reported ceasefire between the US and Iran. The key question is whether this shift in sentiment can push Solana back toward its year‑to‑date highs around $150.
Solana eyes $90 as geopolitical risk cools
The broader cryptocurrency market advanced after news of a two‑week ceasefire agreement between the US and Iran. That development eased concerns about an escalating regional conflict and shifted investor positioning from defensive to more risk‑seeking.
Equity markets and digital assets moved higher as traders rotated capital back into major tokens and higher‑beta names. Over $425 million in short positions were liquidated in the past 24 hours, and global crypto market capitalization rose notably.
Bitcoin briefly climbed above $72,000 while Ethereum traded around $2,270, helping lift altcoins. Solana participated in the rally, pushing SOL above $86 and toward the $90 area, partially recovering losses that followed the recent Drift Protocol exploit.
SOL price analysis
Although SOL’s percentage gains were smaller than intraday moves seen in some smaller-cap tokens, the recovery is meaningful from a market‑structure perspective. The bounce has started to reestablish a higher trading range, suggesting that the worst of the exploit‑related capitulation may be behind the market if the ceasefire holds and inflows continue.
On the technical charts, SOL has been carving out a developing bear‑flag pattern. That classic continuation formation typically signals further downside if price breaks cleanly lower, which had left bears aiming for a move back toward the $70 region.
The recent push toward $90 is an important test for bulls even though the bearish structure remains intact. If buyers can hold the $80–$85 band and transform it into a reliable demand zone, the next immediate resistance cluster should form around $95–$100, where prior supply and key moving averages converge.
A decisive breakout above that area could open the path toward a stronger resistance zone between $120 and $135, with upside targets extending to January 2026 highs near $150.
Conversely, failure to sustain a move above $90 would strengthen the case for a continuation of the downtrend. In that scenario, SOL would face renewed downside pressure toward $70, with more critical support located near $54.
In summary, Solana’s near‑term direction hinges on whether bulls can defend the $80–$85 range and build momentum above $90. Continued geopolitical calm and renewed crypto inflows would favor upside, while a loss of that support would leave SOL vulnerable to further declines.