Solana Price Stuck at Critical Resistance Level
Solana's price is currently consolidating below a crucial resistance area, which analysts are watching closely. According to technical analysis, Solana needs to overcome its current resistance level to confirm that it is preparing for another leg up.
The token has been trading at $102.04 with a 24-hour trading volume of $7.08 billion and market capitalization of $60.29 billion. Its market share is 2.30% of the entire crypto market, and it has lost 1.87% in price over the last 24 hours.
Despite the daily drop, Solana remains above the crucial $94.50-$95.50 support zone within its current technical setup. Analysts are paying attention to this range as it will determine whether the latest bullish phase is intact or not.
The closest resistance comes at the $109.50-$110.50 range, which is important because a successful move above it could confirm that buyers are regaining control. The first upside target is around $110, followed by $112.50 if Solana can maintain momentum after breaking through resistance.