Solana Token Rebounds to $104 Amidst Upcoming Policy Summit
Solana's native token SOL rebounded strongly above $100 after a brief dip earlier in the week, defying bearish technical signals. The token had experienced four consecutive days of losses from September 7 to September 10, 2026, as the broader cryptocurrency market faced renewed selling pressure.
A death cross appeared on Solana's two-hour chart during this period, with the 50-period moving average crossing below the 200-period moving average. However, SOL surprised traders with a sharp bounce on Friday, quickly climbing from $98 to $104 on September 11, 2026.
The surge was marked by a significant green candlestick, exposing shorts who expected further declines. Despite this bearish formation, the price action suggests that bullish momentum may continue, with immediate resistance at $110 and key support zones identified at $83 and $87.