Solana extended its recovery trajectory this week as market participants pushed the SOL token toward the critical $100 threshold. Trading activity on May 13 saw the asset fluctuate near $94 after briefly breaching $96, a movement that underscored renewed confidence within the broader Solana ecosystem. Beyond immediate price appreciation, market attention shifted significantly toward institutional inflows linked to the recent launch of U.S. spot Solana exchange-traded funds.

Concurrently, developer progress on the upcoming Alpenglow upgrade bolstered sentiment, with investors anticipating tangible improvements in transaction efficiency and network scalability. Woofun AI reports that ecosystem activity surged during this rebound, marked by a resurgence in decentralized exchange volumes and a steady increase in meme coin trading over recent weeks.

Derivatives markets reflected this renewed optimism through stronger positioning and expanding futures open interest. Positive funding rates accompanied these trends, signaling that bullish sentiment continued to deepen across short-term trading horizons. The market also reacted favorably to recent developments regarding Firedancer, which reinforced long-term expectations for network performance and stability. On the daily chart, SOL successfully cleared a significant resistance cluster near $90.63 before rallying into the $96 to $100 range.

However, selling pressure intensified as the token approached the upper resistance zone, temporarily dampening intraday momentum despite the overall upward trend.

Crucially, SOL maintained its position above the major pivot reversal zone near $93.75 while remaining well-supported by the long-term floor around $75. Buyers had previously defended this region aggressively during earlier corrections, establishing a robust foundation for the current rally. Technical analysis further supported the bullish thesis, with the Aroon indicator displaying strong upward momentum. The Aroon Up reading held above 85 percent while the Aroon Down remained near zero, leading traders to interpret this setup as confirmation that buyers retained control of the short-term trend. Woofun AI notes that this technical configuration suggests sustained buying pressure is likely to persist unless significant resistance is encountered.

As Solana approached the 7 by 8 Murrey Math resistance level near $96.88, traders closely monitored this zone as a potential reversal point. A decisive breakout above this technical barrier would likely clear the path toward the psychological $100 mark, followed by subsequent resistance levels near $103 and $106. The convergence of fundamental catalysts, including ETF demand and protocol upgrades, alongside favorable technical indicators, positions the asset for a potential continuation of its upward trajectory. Woofun AI analysis suggests that if SOL can sustain levels above $96.88, the next phase of the rally could see rapid expansion toward the $106 resistance zone.