Solana (SOL) is inching closer to the $90 resistance level, the price range it tested last week. According to CoinGecko data, SOL price has increased by 2.6% in the past 24 hours, 6.1% in the last week, 4.1% on the 14-day chart, and 2.5% month-on-month. A bullish breakout in Solana (SOL) could push the asset back to the $100 price level by May 2026. Let me explain why.
Why Solana could reach $100 by May 2026?
Solana (SOL)’s recent rally comes amid a broader market recovery, led by Bitcoin (BTC) regaining the $78,000 price level. BTC reached $78,000 after almost three months, bringing much-needed investor confidence to the cryptocurrency market. BTC’s rise is likely to be fueled by positive developments in the potential nuclear deal between the US and Iran. This easing of tensions likely reignited investor expectations for a bull market.
A deal between the US and Iran could lead to another bull run in the crypto sector. Additionally, President Trump selected Kevin Warsh to succeed the Federal Reserve starting in May. If Warsh takes office, he is likely to lower interest rates. Expectations of rate cuts and a possible peace deal could push Solana (SOL) to the $100 level by May 2026.
Solana (SOL) has shown incredible resilience in the past, and if the market bounces back, this asset could regain its lost glory.
Nevertheless, the crypto sector is still weak at the moment and renewed volatility could pose unexpected challenges. If a nuclear deal is not reached or the Middle East conflict escalates again, Solana (SOL) could return to the low $80s. It will become clear in the coming days how things will turn out.
(Tag translation) Solana
