Solana Price Analysis: SOL Surges 15% Weekly, Will it Break Above $100?

Key Support levels: $78, $56

Key Resistance level: $100, $130

In the past week, SOL has managed to find good support on the $78 level, from where price has now moved on the offensive towards the key resistance at $100. So far, buyers faced little resistance, but their resilience is about to be tested.

Technical Indicators

Trading Volume: The volume throughout this rally has been sustainable, which allowed the cryptocurrency to approach the $100 target.

RSI: The RSI is moving higher from its mid-point at 50 and has set a higher high. This is a good sign, and there is plenty of room left for it to move higher before becoming overbought (over 70).

MACD: The daily MACD is bullish, with the histogram making higher highs as well. Momentum is clearly on the buyers’ side right now.

Bias

The current bias is bullish.

Short-Term Prediction for SOL Price

At this time, it seems likely that we will see SOL test the key resistance at $100 before any serious attempt by the bears to push the price into a correction. Bulls will need more volume to manage a breakout above this key level.