Solana Price Surges Near $120 as Technical Analysis Points to Breakout

Solana's price has been steadily increasing since August, after a year of decline. In October last year, SOL reached $240, but it then fell to a June low of around $62. However, in mid-August, the market changed, and SOL started trading above $100.

Currently, SOL is trading at $110, which is the top of its range since the August breakout. The floor level that SOL has defended repeatedly is now acting as support. According to technical analysis, a level that flips from resistance to support is one of the most reliable signals.

The measured move math points to a target of around $124, which sits on top of the $120 level drawn on the chart. This would be a confirmed break above $100 and projects roughly 24 points wide.