Solana Above ₱5,204 ($87) Could Trigger Short Squeeze at ₱5,563 ($93)

Solana broke through the upper end of its recent trading range, sparking talk of a potential short squeeze. The token had been stuck between $80 and $87 for weeks, trapping bears who bet on a breakdown.

Bears betting on further declines are now facing losses as SOL pushes higher, and forced liquidations could accelerate the rally if traders scramble to cover short positions. The $93 level is the next test. That price floor held during previous pullbacks, and reclaiming it would flip the level from resistance to support. Short sellers who entered near $87 are already underwater, and a push past $93 would leave them with few options beyond closing positions at a loss.

Solana remains one of the most actively traded altcoins on exchanges like Binance and OKX. High leverage on those exchanges means even small price moves can trigger cascading liquidations when positions get squeezed.

Short squeezes happen when a sudden price spike forces bearish traders to buy back tokens to close losing bets. That buying pressure drives prices even higher, creating a feedback loop that can push well beyond the initial breakout level. The tighter the trading range before the breakout, the sharper the squeeze, which is why SOL's $7 range could set up an aggressive move toward $93.