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SOL Solana rebounded strongly past the $100 mark, ignoring bearish technical signals
Solana's native token SOL strongly recovered lost ground and stood above $100 after experiencing a sharp decline earlier this week. This trend blatantly ignored technical signals suggesting further downside.
Technical Analysis: Price Behavior and Short-Term Signals
From September 7 to September 10, 2026, SOL experienced four consecutive days of decline as the broader cryptocurrency market faced a new round of selling pressure. During this period, Solana's two-hour chart saw a "Death Cross", when the 50-cycle moving average fell below the 200-cycle moving average, which is often viewed as a bearish indicator by technical analysts.
Mini Dictionary:
- Death Cross/Golden Cross: Technical analysis term for crossing moving averages. When the short-term moving average crosses down the long-term moving average, it is called a "death cross" and may signal bearish momentum; while a "gold cross" is often seen as a bullish signal.
Despite this bearish pattern, SOL's strong rebound on Friday, September 11, 2026 surprised many traders. The price quickly climbed from $98 to $104, accompanied by a significant green candle line, forcing losses for short sellers who expected further declines.
Looking back at the beginning of September 2026, Solana had its first major gold cross of the year on the daily chart. With this signal, which is usually associated with upward momentum, market sentiment briefly warmed, but prices entered a consolidation phase shortly after the breakout in mid-August.
Key Points and Current Market Conditions
As of the latest inspection, the SOL trading price was US$101.98, down 1.15% in the past 24 hours, with a weekly decline of 0.87%. Analysts are closely watching immediate resistance at $110, which could become the focus if bullish momentum continues. On the downside side, if the market downturn again, the key support areas will be positioned at US$83 and US$87.
On the two-hour chart, Solana quickly rose from $98 to $104 after a short-term death cross emerged, and then formed a huge green candle line showing strong upward momentum.
Upcoming Solana Summit: Focus on Regulation and Institutional Adoption
Solana, a public blockchain platform known for its high-performance and institution-level DeFi applications, plans to host the "Solana Summit: Washington x Wall Street" event on September 14. The event aims to bring together policymakers, investors and industry innovators to discuss blockchain policy and regulatory directions.
Agenda includes insights into Solana infrastructure and its future role in institutional finance. Participants will have the opportunity to connect with participants in the decentralized finance space, including asset allocators, regulatory officials and agreement builders.
The task group discussion will include Patrick Witt, the White House chief of encryption policy, who will outline ongoing government initiatives. In the "fireside chat" session, Securities and Exchange Commission Commissioner Hester Peirce will examine the changing policy environment that will shape the capital market landscape over the next decade. SEC Chairman Paul Atkins will deliver a closing keynote speech, ending a day of activities dedicated to bridging the gap between the crypto industry and traditional financial infrastructure.
