Solana Price Tests Upper Bollinger Band Above $105 Amid Derivatives-Driven Rebound

Solana's price rebounded on September 18, reclaiming $105 in a derivatives-driven move.

The token rose more than 4% from its daily opening price of $101.63 to about $105.89 at the time of writing, representing a gain of 4.18%. Solana's price traded between an intraday low of $100.90 and a high of $106.67.

The rebound extended a recovery from below $97 earlier in the week and returned Solana to the upper end of its September trading range.

Buyers defended the $100 psychological level before pushing the price through the $103-$105 area, with short liquidations adding buying pressure as traders who had positioned for further losses were forced to close bearish positions.