Solana Returns to $88–90 Zone That Sparked 20X Rally; Analysts Eye $100–120 Next

Solana (SOL) has returned to the $88–90 price range, the same accumulation zone that preceded a 20x rally from $10 to over $200 in 2023–2024. The token currently trades around $88–90, above a local bottom of ~$67 but far below its all-time high of ~$295. Analysts note the current market context differs from the post-FTX collapse recovery: SOL's market cap now exceeds $51 billion, making a repeat 20x surge less realistic. However, on-chain data from DefiLlama shows stablecoin liquidity on Solana has reached nearly $16 billion, up $747 million in the last 7 days (nearly 5%), the highest level since the start of the year. Total value locked (TVL) hovers around $5.6 billion, down from a peak of over $12 billion in late 2025 but still indicating substantial liquidity. Daily DEX volume on Solana has fluctuated between $1.1–1.5 billion over the past 30 days, with recent days around $1.3–1.4 billion. Spot Solana ETFs recorded net inflows of about $26 million, concentrated in Bitwise and Fidelity products. Upcoming network upgrades Alpenglow and Firedancer could improve performance and stability. In the short term, the $100–120 range is the next key resistance; a return to the ATH zone around $295 depends on broader altcoin capital inflows. The article concludes that while the setup is worth watching, replicating a 20x rally will require a massive liquidity explosion across the altcoin market.