Solana Price Holds Above $120 Amid Strong Technical Strength and DeFi Participation

Solana's price has continued to rise, staying above $120 due to its strong technical strength and increased participation in decentralized finance (DeFi) activities.

The SOL token price reached an intraday high of $124.95, indicating sustained demand for Solana in the recent rise. The chart shows that the price broke through the $94.85 level, increasing from below $100 in September to above $120.

The TradingView indicators are still showing positive momentum, with the Relative Strength Index (RSI) at 68.44 and the Moving Average Convergence Divergence (MACD) supporting this upward move. The open interest of Solana is now up to around $7.5 billion, while derivatives volume is above $12 billion.