Solana climbed 4.18% on Sep. 18 to $105.89, reclaiming the $105 level as short positions unwound. The token now trades above every major moving average, but a 4-hour RSI above 70 signals the rally has grown stretched.
Solana rebounds above $105 as short sellers get squeezed
Solana climbed from a daily opening price of $101.63 to $105.89, a gain of 4.18%, after trading between an intraday low of $100.90 and a high of $106.67. The move extended a recovery from below $97 earlier in the week and pushed SOL back to the upper end of its September range.
Buyers defended the $100 psychological level before pushing the price through the $103–$105 area. SOL gained alongside a broader crypto-market rebound following the Federal Reserve's latest policy decision, and short liquidations added buying pressure as traders positioned for further losses were forced to close bearish bets. The advance offered some relief after regulatory uncertainty weighed on digital assets following the Senate's failure to advance the CLARITY Act.
Technical signals turn bullish above $100
Solana's daily chart shows the price trading above all four major moving averages. The 20-day simple moving average stood at $101.87, providing the nearest dynamic support, while the 50-day SMA sat near $90.62 and the 100-day and 200-day averages clustered around $83.55 and $82.68.
The daily average directional index registered 41.91, a reading above 25 that typically points to a strong trend, though it does not determine direction on its own. However, the 4-hour chart shows a more cautious picture: SOL traded above the Bollinger Bands' middle line at $100.09 and briefly exceeded the upper band near $105.47, while the 4-hour RSI reached 71.37, above the commonly watched overbought threshold of 70.
Liquidation map flags $107–$108 as next target
CoinGlass's 24-hour liquidation heatmap shows the nearest concentration of overhead liquidity between roughly $106.50 and $108. A break above the $106.67 session high could expose that zone as the next target, with the late-August and early-September highs near $110–$112 back in focus if it clears.
Liquidity is also building below the current price, with the strongest nearby bands between $103 and $105, followed by clusters near $100–$101. A drop below $100 would weaken the breakout and could send SOL toward the 4-hour lower Bollinger Band near $94.71, with the 50-day average near $90.62 forming the next broader support zone.
Crypto analyst Ali Martinez said on-chain data showed more than 40 million SOL had traded around $100, describing it as a major support floor. Both the daily chart and the liquidation map currently point to the same $100–$101 area as the key dividing line for the token's short-term direction.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
