May 9, 2026 Technical Analysis of SOL

Current price: $89.02, slight upward movement in 24 hours, correlated with BTC's high-level oscillation, overall showing a strong oscillating structure

1. Trend Structure

1. Daily Chart Level
Mid-term bullish trend continues, price remains above short-term moving averages, Bollinger Bands are opening upward; MACD shows gentle increasing red bars, RSI is in the neutral to slightly strong zone at 52, no obvious overbought condition, bullish momentum is steady, upward trend remains intact.

2. 4-Hour Chart Level
Short-term maintains an upward channel, with very weak pullbacks, moving averages are in a bullish alignment, Bollinger Bands continue to expand; price oscillates around the midline, showing a slightly strong oscillation, pullbacks are opportunities for low-entry.

3. Correlation Performance
Highly synchronized with BTC movement, when BTC consolidates at high levels, SOL shows stronger resistance to decline, with clear capital preference, highlighting its strong attributes.

2. Key Support/Resistance

Resistance Levels

• Short-term first resistance: $91.4 (previous dense resistance level)

• Strong resistance: $94–95 (new high pressure zone in the stage)

• Breakout target: $98–100

Support Levels

• Short-term first support: $87 (4-hour Bollinger Band midline)

• Strong support: $85.9 (trend defense line, a break below indicates short-term weakening)

• Bullish lifeline: $83 (20-day moving average, key mid-term defense)

3. Today’s Trading Ideas

1. Trend-following low buy (priority)

• Buy on pullback to $87–87.5, stop loss at $85.5, targets at $91 and $94

2. Range trading

• Shorting on rebound at $91–91.4 resistance, stop loss at $92, targets at $88 and $87

3. Breakout follow-up

• Volume confirmation to hold above $91.4, follow the trend to go long, aiming for $94–95

• Valid break below $85.9, turn short-term bearish, target $83

4. Summary

SOL shows strong oscillation and upward movement today, with a complete bullish structure, better resistance to decline than the market, mainly operating on dips to buy, focus on the breakout of $91.4 resistance and $85.9 support, trading with the trend.

Risk Reminder: Cryptocurrency is highly volatile. The above is purely technical analysis and does not constitute investment advice. Be sure to strictly control position sizes and stop-losses.