Key Insights

• Solana price holds near $88 as an ascending channel builds momentum, while derivatives data signal rising open interest and short-squeeze pressure.
• SAR flipped bullish at $81.85 as the price recovers from February lows, while the $94 Supertrend resistance remains the next decisive level.
• Mastercard’s crypto partner program includes Solana, linking the network to global payment infrastructure and strengthening institutional attention toward SOL.

Solana trades near $88.55 after gaining almost two percent during the session, while the price earlier climbed to $91.13 before easing as traders locked in short-term profits. The rebound continues a recovery that began from the February lows near $68, showing improving demand as buyers steadily return to the market.

Besides the steady price recovery, technical signals and derivatives activity indicate that traders now focus on the next major resistance zone near $94. Market participants closely watch this level because it could determine whether the recent recovery transforms into a broader trend shift.

Daily Indicators Show Improving Market Structure

The daily chart highlights a shift in technical structure as the Parabolic SAR now prints below the price near $81.85. This development marks the first bullish SAR signal since the October 2025 breakdown, suggesting that downward pressure has started to weaken.

However, the Supertrend indicator still sits above the market at around $94, which continues to act as a strong resistance barrier. Price has approached that level twice since February and has been rejected each time, yet the latest approach carries more momentum than previous attempts.

Moreover, a descending trendline extending from the October peak near $260 continues to cap upside moves. A daily close above $94 would move Solana closer to challenging that trendline and could open the path toward the $100 area.

Intraday Channel Keeps Buyers in Control

Short-term price action reflects a controlled upward structure that began near the March 9 lows around $81. The 30-minute chart shows a clear ascending channel that pushed the price toward the upper boundary near $91 before a mild pullback developed.

Consequently, the channel midline near $88.50 now serves as an important short-term support level, while the lower boundary continues to rise toward the $86 to $87 region. As long as the price remains within this structure, traders expect another attempt toward the upper band near $91 to $92.

Additionally, momentum indicators remain constructive even after the morning pullback. RSI holds slightly above the neutral zone while MACD histogram bars remain positive as the indicator lines move closer to a possible bullish crossover.

Derivatives Activity Signals Short Squeeze Pressure

Derivatives data show increasing positioning, with open interest rising to about $5.46 billion and trading volume expanding significantly. This growth suggests that new capital continues to enter the market rather than existing traders simply rotating positions.

Significantly, liquidation data reveal strong pressure on short sellers, as liquidations against bearish positions exceed $11 million within twenty-four hours. Consequently, another move above the $91 to $92 zone could trigger additional short covering, accelerating the move toward the $94 resistance level.

Mastercard Program Strengthens Solana Payment Narrative

Besides technical developments, institutional partnerships have also drawn attention to Solana’s role in digital payments infrastructure. Mastercard introduced its crypto partner program in March 2026 to build payment solutions using blockchain networks and traditional financial rails.

Solana joined the initiative alongside companies such as Mastercard, Ripple, PayPal, Circle, Polygon Labs, and Binance. Moreover, the collaboration connects Solana’s high-speed transaction network with global merchant payment systems.

Consequently, the partnership highlights Solana’s potential role in cross-border payments, merchant settlements, and business transactions as the blockchain ecosystem moves closer to real-world financial integration.