Solana Price Bounces Back Above $100 Amid Technical Buy Signals

Solana's SOL token price has recovered significantly from its recent low of $60, reaching around $103 after a strong recovery. This marks the first green monthly candle in ten months, indicating a potential shift in momentum.

The monthly MACD is approaching a bullish crossover and the RSI has broken above a two-year downtrend, suggesting that the bearish momentum structure may be weakening.

Additionally, a whale purchase of $9 million in SOL this week has drawn attention, aligning with the improving technical picture on higher timeframes. Analyst Ucan Coin identifies key resistance levels at $120.23 and $146.56, while the main support level sits at $97.70.