Solana Surges Past $100, Testing Key Price Target

Solana's price surged past $100 for the first time in two months after breaking through a key resistance zone at $78-$79. The SOL token rose 7% in 24 hours, reaching a high of $103.50 before retreating slightly. Traders maintained support levels between $92 and $97, pushing Solana back above $100.

The Bitwise Solana Staking ETF (BSOL) saw record trading volume of $108.65 million, indicating strong market activity in the Solana ecosystem. The ETF's high trading volume coincides with Solana's price surge, suggesting a link between the two.

Analysts predict that if Solana closes above $103.50 on a four-hour chart, it could continue rising toward $115. However, failure to hold support levels could lead to a retracement in price.