Solana Bulls Fight for $100 as Price Consolidates

Solana's price has hit $99.03 after a 2.49% surge in the last 24 hours, outperforming the broader market's modest recovery.

This uptick can be attributed to traders responding positively to Solana's recent network upgrades and renewed interest in Layer 1 tokens.

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

The daily chart shows consolidation, with SOL trending slightly lower since its recent bullish rally. The pullback has been controlled, with the bulls defending the 38.6% Fibonacci retracement at $95.15.

The price is approaching the 23.6% Fibonacci level at $101.16, but reclaiming this zone could prove difficult without stronger momentum.