Solana Price Eyes $110 Breakout After Reclaiming $100

The Solana (SOL) price has reclaimed $100 and is now eyeing a breakout above $110, according to recent analysis. SOL derivatives open interest reached $5.83 billion on September 17, indicating heavy positioning in the market.

However, if buyers lose their grip on the $100 level, attention may shift back to the $84.50 support zone. This would be a significant drop from the current price of around $99.5, which is where SOL traded on September 17.

The recovery in Solana's price follows a volatile Federal Reserve session and renewed strength across SOL crypto markets. Policymakers raised interest rates by 25 basis points on September 16, lifting the federal funds target range to 3.75%-4.00%.