Solana Bulls Face Test Above $100

Solana's price has reached $99.03 after a 2.49% gain in the last 24 hours, surpassing the broader market's recovery.

The uptick is attributed to traders responding positively to recent network upgrades and renewed interest in Layer 1 tokens.

However, despite these encouraging factors, Solana's price remains below $100. Can bulls push the recovery further?

The daily chart shows consolidation, with SOL trending slightly lower since its recent bullish rally, but the pullback has remained controlled as bulls continue to defend the 38.6% Fibonacci retracement at $95.15.