Solana Price Prediction as SOL Bounces From $100 Support Level – New Highs Incoming?
In the ever-evolving landscape of digital currencies, Solana (SOL/USD) emerges as a focal point of interest, especially as it rebounds from the critical $100 support level. Currently trading at $104.25, Solana has seen over 3% rise in the last 24 hours, with a remarkable 24-hour trading volume of $4.55 billion.
This surge not only reflects the vibrant market activity around Solana but also highlights its significant market capitalization of around $44.74 billion. Ranked fifth on CoinMarketCap, Solana’s position is reinforced by its substantial circulating supply of 429,177,917 SOL coins.
As Solana navigates these key market dynamics, investors and analysts alike are keenly watching if this momentum could potentially usher in new highs for the cryptocurrency.
From a technical perspective, Solana is navigating a critical juncture. The weekly pivot point is set at $105, serving as a key indicator for future price movements.
Looking upward, immediate resistance for Solana is found at $110, with further significant levels at $116 and $124.
These resistance levels are pivotal barriers that could shape Solana’s price trajectory in the short term. On the flip side, support levels are strategically placed at $96, $90, and $84, offering potential floors for price corrections.
Read more on cryptonews.com
