According to CryptoPotato, Solana appears to be nearing the end of its consolidation and may attempt to break into $100 again. Key support levels are at $78, while key resistance levels are at $104. Solana was on the verge of charting another lower low, but buyers returned to stop that from happening. As a result, SOL made a higher low, and the price action shows signs it may want to test the resistance at $104.
If the price gets back above $100, then the key resistance will struggle to stop bulls, and Solana may enter a renewed uptrend. This most recent correction appears to be ending, which would support such a move. The 12-hour MACD is hours away from a bullish cross. If confirmed, then buyers have the upper hand, and SOL will likely return to a three-digit valuation. The bias for SOL is neutral.
The bias will change to bullish if the key resistance at $104 breaks. Until then, pressure may be building up under this key level, which could lead to increased volatility this week.
