Solana Price Surges Over 4% to Reclaim $105 Level

Solana's price surged more than 4% on September 18th, reclaiming the $105 level in a derivatives-driven rebound. The token rose from an opening price of $101.63 to around $105.89 at the time of writing, marking a significant gain. This move above short-term resistance strengthened bullish momentum for Solana.

The recovery extended a rebound from below $97 earlier in the week and returned Solana's price to the upper end of its September trading range. Buyers defended the $100 psychological level before pushing the price through the $103-$105 area. The advance offered some relief after regulatory uncertainty weighed on digital assets following the U.S. Senate's failure to advance the CLARITY Act.

Technical indicators favor buyers above $100, with Solana's daily chart showing the price trading above all four major moving averages. However, momentum risk has increased as the 4-hour RSI has entered overbought territory and price has moved above the upper Bollinger Band.