Solana Price Targets $110 as Bulls Test Key Resistance Zone
Solana's price has been gaining attention as it approaches the crucial resistance zone of $105, which could determine its next move. After bouncing strongly off its June bottom near $65, Solana (SOL) is currently trading at around $104.82, up 2.42% in 24 hours.
The daily volume of SOL transactions is estimated at $5.25 billion, and the market cap is valued at $61.37 billion, taking a share of 2.27% of the whole crypto market. According to a recent post by crypto analyst Nehal, reclaiming the $105 level could boost the current bullish setup and help SOL eye higher targets.
Reclaiming $105 could improve the near-term prospects of Solana, potentially leading to further gains to $120 and even $140 if we are speaking about a larger impulse move. Failure to break the resistance level could cause the price to fall to lower support levels.