Solana's Price Tests Key Resistance at $115 as Bulls and Bears Clash

Solana has regained its footing in the crypto market after plummeting to a June low of $60.66, reclaiming above $100 and currently testing a key resistance zone near $115.

The recent price action has pushed momentum higher, but it now faces a crucial test: can Solana hold above $100 and break through the $115 resistance zone?

Strong institutional demand, network activity, and upcoming upgrades are contributing to the prevailing bullish token backdrop. However, the MACD shows waning buying pressure, with a potential bearish crossover on the horizon.

The 50- and 200-day moving averages are approaching a potential golden cross that could absorb selling volume, potentially paving the way for an extended ascending trend.