Solana Price Prediction as SOL Approaches $100 – Can SOL Beat Its All-Time High?

cryptonews.com:

As Solana (SOL) edges closer to the $100 mark, the crypto community is abuzz with speculation about its potential to surpass its previous all-time highs. Trading at $94.05 today, SOL has seen a 1.03% increase in the last 24 hours, with a robust trading volume of around $2.34 billion.

Currently ranked fifth on CoinMarketCap, Solana boasts a market capitalization of approximately $40.76 billion USD and a circulating supply of 433.38 million SOL coins.

This recent surge in price and market position has sparked discussions among investors and analysts alike, as they ponder whether SOL can sustain this momentum and set new records in the cryptocurrency market.

Observing the 4-hour chart, Solana presents a complex picture. The pivot point, a crucial indicator of market sentiment, is at $93.99. Resistance levels are noted at $97.40, $99.89, and $103.37, representing critical points where selling pressure might intensify.

Support levels are identified at $90.69, $88.02, and $85.10, which could provide a rebound in price if tested.

The Relative Strength Index (RSI) is currently at 64, suggesting a slightly overbought condition but not alarmingly so. The 50-Day Exponential Moving Average (EMA) stands at $91.06, supporting the ongoing uptrend.