- Solana price has gained in the past 24 hours as Bitcoin retests $72,000.
- The SOL token could rally to $150 amid the US-Iran ceasefire.
- However, continued weakness could allow bears to target $70 or lower.
Solana’s latest rebound has revived bullish speculation, with decent gains aligning with an uptick for risk asset markets.
As traders digest the impact of easing geopolitical tensions amid the ceasefire between the US and Iran, the key question is whether a shift in sentiment could propel Solana to its year-to-date highs of $150.
Solana eyes $90 as geopolitical risk cools
As noted, the broader cryptocurrency market pushed higher overnight Tuesday after US President Donald Trump announced a two‑week ceasefire deal with Iran.
The news has eased fears of a deeper regional conflict, with the Pakistan‑brokered talks coming ahead of a 48‑hour deadline set by Washington.
Stocks and cryptocurrencies rose as risk sentiment changed from defensive positioning to an aggressive hunt for upside exposure.
The sharp gains saw more than $425 million in short positions liquidated in the past 24 hours, with over $100 billion added to the global crypto market capitalization.
Bitcoin edged above the $72,000 mark, and Ethereum climbed to $2,270, boosting altcoins as traders rotated capital back into major tokens and high‑beta plays. Solana’s upswing had SOL advancing to above $86.
The move toward $90 erases part of last week’s drawdown that followed the Drift Protocol exploit.
SOL price analysis
While SOL’s percentage gains pale in comparison to intraday moves of Zcash, Bittensor, and LayerZero, the uptick was still significant from a market‑structure point of view.
The recovery helped re‑establish a higher trading range, suggesting that the worst of the exploit‑driven capitulation may be over if the ceasefire holds and broader crypto inflows continue.
On the charts, SOL has recently been shadowed by a developing bear flag formation.
The classic chart pattern usually signals downside continuation if a clean break occurs, and its formation had bears threatening a drop back toward the $70 region.
The bounce to near $90 is crucial even as the bearish structure remains.
If bulls can consistently defend the $80-$85 band and convert the area into a solid demand zone, the next immediate resistance is likely to emerge around $95-$100.
This is where prior supply and key moving averages converge, and a breakout could pave the way for a higher resistance cluster in the $120-$135 zone.
Bulls can target January 2026 highs near $150.
However, if buyers fail to break and hold above the $90 level, the technical backdrop would increasingly favor an extension of the downtrend.
This outlook exposes SOL to renewed downside pressure toward $70, with critical support near $54.
