Is SOL on the Verge of Breaking Above $80? Three Thigns to Watch Today (Solana Price Analysis)

Solana continues to show strength despite the latest pullback.

Key Support levels: $67

Key Resistance levels: $78, $100

1. Breakout Soon?

Solana appears ready to break higher and turn the resistance at $78 into a support. If this happens, then this cryptocurrency will be more likely to reach a three-digit valuation.

SOLUSDT_2023-12-15_15-21-51 — Chart by TradingView

2. Key Support Held

The support at $67 managed to hold off the sell-off from Monday, and buyers came back in force to take the price under the key resistance once more. This shows that pullbacks are quite shallow and quickly bought in this market.

SOLUSDT_2023-12-15_15-22-06 — Chart by TradingView

3. RSI Shows Weakness

While the price appears ready to continue its uptrend, the 3-day RSI shows a different story. It has been making lower highs since mid-November, which calls for caution. Eventually, this momentum can be reversed based on the RSI.

SOLUSDT_2023-12-14_18-21-59 — Chart by TradingView

Bias

The bias for SOL remains bullish.

Short-Term Prediction for SOL Price

A breakout above $78 would place Solana on a collision course with the next key target at $100. Such an impulse would require bulls to continue to dominate unimpeded.

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