Solana Surges Past $100 as Short Squeeze and Regulatory Hopes Fuel Rally

Solana (SOL) has reached an all-time high of $100 after a massive short squeeze propelled it past two key resistances.

The token saw nearly $100 million in short liquidations on August 18, marking its second-highest single-day wipeout for bears on record.

Market sentiment has shifted dramatically, with the Crypto Fear and Greed Index reaching an Extreme Greed level of 80, its highest since December 2024.

On-chain data suggests that a short-term rally is justified, especially as regulatory improvements in the US continue.

SOL could pull back to $90 before its next leg up, which would target the $120 area with a 33% upside potential.