Solana's SOL Briefly Reclaims $93 as Analysts Flag Potential Short Squeeze and $103-$113 Targets

Solana's SOL token briefly climbed above $93 on March 18, a key resistance zone that analysts describe as a "39-day distribution" area now potentially acting as support, with price targets flagged near $103 and $113. Chart analyst Ali Martinez said on X that reclaiming $93.14 could trigger a short squeeze as bearish traders are forced to cover positions, while WebTrend highlighted a recurring pattern of back-to-back weekly candles with long lower wicks that previously preceded rallies of 1,604% in 2023 and 142% in 2025. Market watcher Bluntz pointed to a completed accumulation phase after the daily breakout and suggested holding above the mid-$90 range could support a broader trend reversal, though SOL has since slipped below $90 after tapping $95 earlier today, is up 7% over the past month, down nearly 25% over the last year, and remains more than 67% below its almost $293 all-time high from about a year ago. SoSoValue data as of March 17 show net inflows into Solana-linked spot ETF products have reached almost $1 billion, with daily flows turning positive again after briefly turning negative earlier in the month following a period of compressed volatility between $80 and $87.