Solana Price Hangs at $100 Threshold, Market Sentiment Remains Greedy

The Solana price has reached $101.02 on its daily close, holding just above the $100 threshold it broke through in late August. The market is caught between constructive structure and cooling momentum, with a mix of bullish and bearish signals.

On the daily chart, the 20-period EMA sits well above both the 50-period EMA and the 200-period EMA, indicating strong short-term buying pressure. However, the MACD histogram is slightly negative, suggesting cooling momentum despite a healthy RSI reading of 64.24.

The Fear & Greed Index reads 65 in 'Greed' territory, while the total crypto market cap pulled back 2.15% to $2.64 trillion. On-chain DEX activity on Solana has been growing meaningfully, supporting the idea that real usage underpins the recent price move.

A bullish scenario requires SOL to clear daily pivot resistance at $101.86 and hold above it, with the hourly MACD histogram continuing to expand rather than fade. A bearish scenario leans on the daily MACD histogram already sitting in negative territory and a break below daily support at $99.70.