Solana Bulls Take Charge as Price Surges Past $110

Solana's recent price surge has caught many investors off guard, but its bullish structure remains strong. Despite a brief pullback across the wider market, Solana jumped to $110, driven by Charles Schwab's plans to incorporate SOL.

This pump proved short-lived as the altcoin retraced to a daily low of $105, but it has since rebounded and is up 5% on the daily charts. This volatility sparked a wave of liquidations for both short and long positions, with over $30 million worth of shorts being liquidated.

The price action suggests that sellers may be getting exhausted, while buyers are stepping in. The Netflow has turned negative, but this could indicate that major price moves to the upside are imminent.