This psalm is a poetic version of the account in II Sam. 7

89:1-18 Praised God as incomparable and full of lovingkindness and faithfulness

89:19-37 God's promises to David stress His lovingkindness and faithfulness

Many of the things said of the David/ His offspring are things similar to what was said in other royal psalms. 
89:23 He will crush His foes militarily- Ps. 2:8-9; 110:1-3
89:25 I shall also set His hand of the sea- His reign will be universal- Ps. 2:8-9; 72:8-11
89:26-27 The Father/Son relationship between God and the king- Ps. 2:7
89:35, 37 Sun and moon are pictures of the eternal dynasty of David- Ps. 72:5, 7, 17

Many of the things said are similar to David's career in Samuel, especially II Sam. 7.
Ps. 89:19 vision- II Sam. 7:17
89:19 one who is mighty- I Sam. 16:18
89:20 I have anointed him- I Sam. 16:1-13; II Sam. 2:1-7; 5:1-5
89:21 The Hebrew word established - II Sam. 7:12, 13, 16
89:24, 28, 33 God's lovingkindness- II Sam. 7:15
89:26-27 Father/Son relationship- II Sam. 7:14
89:30-32 If his sons are unfaithful then God will punish them but will not take HIs lovingkindness away from him- II Sam. 7:14-15