Solana Price Rises by 68%, Breaks Through Key Resistance Levels
Solana's price has seen a strong bullish trend in recent weeks, surging by 68% over the past three months and breaking through key resistance levels. At press time, Solana traded at $103.21 with a market capitalization of $60.385B and a 24-hour trading volume of $3.655B.
The SOL price showed signs of bullish momentum in early August, reaching a high of $110 but experiencing profit booking and subsequently dropping by 7.22%. However, the price remains above the $98 mark, which is seen as a crucial support level.
Open Interest has increased significantly alongside the price rise, indicating fresh long positions entering the market rather than short-covering. This could be a bullish signal for Solana's future performance, with some analysts predicting that the price may reach $150 if buyers can sustain above the $98 mark.