Solana Token Price Soars Above $100 as Analysts Eye $115 Target

Solana's token price has surged 7% in the last 24 hours, pushing its weekly gains to 32%. The recent breakout of the two-month resistance zone between $78 and $79 has led to a clear structural recovery for SOL. After breaking above $79, the price climbed to $88 and eventually reached $103.50, only to be rejected by sellers and retrace toward $87.

However, buyers defended their breakout area, and instead of completely retracing back to the launchpad at $79, SOL formed a base between $92 and $97 as sellers lost momentum. Buyers regained momentum later on, pushing the price above $100 and bringing the $103.50 ceiling into play again.

According to analysts, if SOL prints a close on a four-hour chart above $103.50, it will be clear that all supply is out of the way, continuing upward momentum and testing $115. On the other hand, another failure at $103.50 would send attention back to the $92-$97 area.

BSOL trading volume has hit a record high, with a total trading volume of $108.65 million on the day SOL approached the resistance point. This is also the largest single day that this Solana-based ETF has seen to date, and it implies stronger ETF liquidity.