Solana Defends Key Support Zone Amid Bullish Momentum

Solana (SOL) continues to show resilience in the market, holding above its key support zone and maintaining a bullish outlook. According to More Crypto Online, SOL is defending its crucial support region between $90.50 and $100.48, allowing the bullish trend structure to remain intact.

At press time, Solana is trading at $103.25, with a 1.3% gain over the past 24 hours and a 24-hour trading volume of $2.15 billion. Its market capitalization has reached $60.45 billion.

Data from Coinglass highlights contrasting signals in the Solana derivatives market, with trading volume declining by 42.33% to $4.44 billion, while open interest grew by 2.86% to $6.38 billion.

Technical analysis on TradingView reveals that SOL's price recently broke out of a consolidation phase driven by renewed buying pressure. The Relative Strength Index (RSI) has cooled to 64.80 from previously overbought levels above 70, indicating prices are stabilizing after recent gains.