Solana Price at $89: Can SOL Reclaim $90 Support?

Solana is trading near $89 after a pullback from the $96 resistance area, with traders watching whether SOL can reclaim $90 or slide toward deeper support at $81.30, according to technical analysis from MCO Global and liquidation data from CW. High leverage long liquidations have cleared most overleveraged positions, potentially reducing forced selling pressure, though fresh buying demand is needed to confirm a rebound.

Technical Setup: Support Levels and Wave Structure

Solana corrected from its recent high after failing to clear the resistance region near $96, according to a 4-hour chart analysis shared by MCO Global. The analyst noted that this move makes a direct impulsive bullish scenario less likely in the short term.

However, the broader bullish setup has not fully failed. MCO Global said the preferred bullish alternative remains a larger diagonal structure in a higher-degree wave C.

Solana now needs to stay above the red support zone near $81.30 to keep the possibility of another upward extension. If buyers defend that area, SOL could attempt another move toward the $96 resistance level.

The technical chart shows short-term support levels near $84.72 and $87.51. These levels sit inside the current correction zone and may guide the next reaction before SOL retests deeper support.

A break below $81.30 would weaken the setup. In that case, Solana could move toward the broader range support between $72 and $78. The chart marks $77.95, $75.40, and $71.92 as deeper Fibonacci support levels. These areas sit near the main range support zone, which has held previous downside moves.

For now, Solana remains inside a larger sideways range. The key resistance stands near $96, while support levels sit at $84.72, $81.30, and $77.95. A hold above $81.30 would keep the bullish alternative active, while a break below it would shift focus to the $72 to $78 range.

Liquidation Cleanup: High Leverage Positions Cleared

Solana fell toward the $88 to $89 area after a sharp drop cleared most high leverage long positions, according to a liquidation heatmap shared by CW. The chart shows SOL moving lower after price failed to hold above the $90 region.

Bright liquidation zones appear around earlier price levels, including areas near $90, $93, $96, and $99, showing where leveraged positions had built up before the decline. The latest move pushed SOL into a lower range after high leverage longs were liquidated. CW said most of Solana’s high leverage long positions have now been cleared.

That cleanup can reduce forced selling pressure from overleveraged traders. However, it does not confirm a rebound by itself. SOL still needs fresh buying demand to recover above nearby resistance.

The liquidation chart shows Solana trading below several earlier liquidity bands. The nearest resistance now appears around $90, while stronger liquidity zones sit near $93 and $96.

If SOL fails to reclaim $90, price could remain under short-term pressure. A move back above that level would be the first sign that buyers are trying to regain control after the liquidation event.

For now, Solana remains near the lower part of the heatmap range. The main focus is whether the cleared long positions allow SOL to stabilize, or whether price retests deeper support near the $87 area.