{"id":23874,"date":"2026-03-16T14:08:43","date_gmt":"2026-03-16T14:08:43","guid":{"rendered":"https:\/\/bitunikey.com\/news\/can-solana-price-rally-past-100-on-an-ascending-triangle-breakout\/"},"modified":"2026-03-16T14:08:55","modified_gmt":"2026-03-16T14:08:55","slug":"can-solana-price-rally-past-100-on-an-ascending-triangle-breakout","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/can-solana-price-rally-past-100-on-an-ascending-triangle-breakout\/","title":{"rendered":"Can Solana price rally past $100 on an ascending triangle breakout?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Solana\u2019s price rallied over 6% to a five-week high of $94 on Monday amid a broader market rebound.<\/p>\n<div id=\"cn-block-summary-block_d213b7713abc93bab2a6fcb2bb840654\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Solana price rallied to a five-week high near $94 as the broader crypto market rebounded after Bitcoin moved above the $74,000 level.<\/li>\n<li>The rally was supported by short liquidations and rising derivatives activity, with SOL futures open interest increasing over the past day.<\/li>\n<li>Spot Solana ETFs also extended their inflow streak, recording another week of net inflows and boosting investor sentiment around the token.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Solana (SOL) price rose nearly 7% to $94.07 on March 16, reaching its highest level since early February.<\/p>\n<p>The seventh leading crypto asset by market cap rallied during a market-wide recovery after Bitcoin (BTC), the bellwether crypto asset, surpassed the $74,000 psychological resistance level, as investors rotated capital away from traditional safe-haven assets like gold and silver, which have tanked recently after hitting new highs.<\/p>\n<p>The altcoin\u2019s price also gained significant support from a short squeeze that followed shortly after its rebound near $90, where several short positions were concentrated. When short positions are liquidated, traders are forced to buy back the asset to cover their losses, which triggers a rapid upward price spiral as buying pressure intensifies.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Its leveraged markets also played a pivotal role in this momentum. Notably, SOL futures open interest increased by 7% over the past 24 hours, a sign that more liquidity was entering the market.<\/p>\n<p>Meanwhile, spot Solana ETFs, which recorded their <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-sol-spot\" target=\"_blank\" rel=\"nofollow\">fifth consecutive week of net inflows<\/a> by bringing another $106 million into the investment products, have also uplifted investor sentiment surrounding the token.\u00a0<\/p>\n<h1 class=\"wp-block-heading\">Solana price analysis<\/h1>\n<p>On the daily chart, the Solana price is eyeing a breakout from an ascending parallel channel pattern, a popular bullish continuation pattern in technical analysis.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Solana price is close to confirming an ascending triangle pattern on the daily chart \u2014 March 16 | Source: crypto.news<\/figcaption><\/figure>\n<p>The 20-day simple moving average is also close to confirming a bullish crossover with the 50-day. A bullish crossover between these moving averages has historically signaled the start of a sustained uptrend. Additionally, the Relative Strength Index has been moving upwards after some consolidation in the neutral zone.<\/p>\n<p>Hence, the path of least resistance for Solana suggests a move above the $100 psychological threshold over the coming sessions. A decisive break further above the $100 mark could embolden bulls to target the 100-day SMA at $110 as the next major resistance level.<\/p>\n<p>On the contrary, if bullish momentum fails, the Solana price could revisit the 50-day SMA at $90, a drop below which can invalidate the current bullish thesis and lead to a deeper correction toward the $80 support zone.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana\u2019s price rallied over 6% to a five-week high of $94 on Monday amid a broader market rebound. Summary Solana price rallied to a five-week high near $94 as the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=23874"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23874\/revisions"}],"predecessor-version":[{"id":23875,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23874\/revisions\/23875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1079"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=23874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=23874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=23874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}