The Solana price has struggled to shake off the woes of the start of the year, despite a slightly improved overall market environment in recent weeks. After falling from a valuation of nearly $150 in the first quarter of 2026, the altcoin has been stuck within a consolidation range between $75 and $100 in recent months.
The upper limit of this consolidation zone proved formidable after the Solana price failed to fully benefit from the injection of bullish momentum (triggered by the news of the CLARITY Act passed by the US Senate Banking Committee). A popular market analyst on social media platform X has identified this specific resistance level and what lies on the other side for Solana.
A break above $98 could signal a continued rally for SOL price
In a recent post on the X platform, crypto expert Ali Martinez said localized $98 is the level that needs to be broken before Solana price can reach its upside potential. According to the analyst, the cryptocurrency could see a rally of around 30% if it sustains a break above this overhead resistance.
Martinez emphasized that the SOL token trades within a “well-defined” horizontal channel, with the lower and upper limits at $78 and $98 respectively. As a result of the market-wide rally triggered by the CLARITY Act, Solana’s price saw bullish momentum but was quickly curtailed by the $98 ceiling.
After bouncing back from this rejection around the $88 pivot point, Martinez believes the altcoin could return to the channel ceiling for another breakout attempt. The crypto trader noted that if Solana’s price manages to break and close above $98 (on the daily time frame), investors could see a rise towards $107.
However, that is only an immediate target as Martinez believes the Solana price could rise further towards his secondary target of $117. As previously stated, this secondary target represents an upside of more than 30% from the current price point.
At the same time, Martinez offered an alternative scenario in which the $98 resistance refuses to budge. According to the market analyst, Solana’s price could experience a pullback to the $88 pivot point – or even the $78 channel bottom – if resistance remains strong.
Be that as it may, overall market conditions should improve if the altcoin is to have a sustainable rebound, especially given the sensitivity of financial markets to broader market dynamics in 2026.
Solana price at a glance
At the time of writing, SOL’s price is around $89.33, reflecting a drop of more than 3% in the last 24 hours.