Solana

Bitcoin

Momentum

Resistance

Solana is gaining bullish momentum above $100. SOL price is signaling a fresh increase and might rally further toward the $112 level. 
<ul> 
 <li>SOL price started a fresh increase from the $93.20 support against the US Dollar.</li> 
 <li>The price is now trading above $98 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a major bearish trend line with resistance at $96 on the 4-hour chart of the SOL/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rally if it clears the $102.50 and $105.00 resistance levels.</li> 
</ul> 
<h2 id="solana-price-regains-bullish-momentum">Solana Price Regains Bullish Momentum</h2> 
Solana price formed a base above the $93.20 support zone and recently started a fresh increase. There was a decent increase above the $96 and $98 levels. 
The price is up over 7% and there was a move above the $100 level, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-surges-44k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-jumps-to-2450/" target="_blank" rel="noopener ">Ethereum</a>. During the increase, the price cleared the 76.4% Fib retracement level of the downward move from the $102.46 swing high to the $93.17 low. 
Besides, there was a break above a major bearish trend line with resistance at $96 on the 4-hour chart of the SOL/USD pair. Solana is now trading above $98 and the 100 simple moving average (4 hours). 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-573908" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461" alt="SOL Price Breaks $100 " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Solana_5be68b.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/SOLUSD/" target="_blank" rel="noopener nofollow">SOLUSD on TradingView.com</a> 
Immediate resistance is near the $102.50 level. The next major resistance is near the $105 level. A successful close above the $105 resistance could set the pace for another major increase. The next key resistance is near $112. Any more gains might send the price toward the $120 level. 
<h2 id="are-dips-supported-in-sol">Are Dips Supported in SOL?</h2> 
If SOL fails to rally above the $105 resistance, it could start a downside correction. Initial support on the downside is near the $98 level. 
The first major support is near the $96 level and the 100 simple moving average (4 hours), below which the price could test $93.20. If there is a close below the $93.20 support, the price could decline toward the $85 support in the near term. 
Technical Indicators 
4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. 
Major Support Levels – $96, and $93.20. 
Major Resistance Levels – $102.50, $105, and $112.

SOL Price Breaks $100 – Why Solana Could Pump Another 10%

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