Can Solana (SOL) manage to maintain the $100 level?

While the struggle of the bulls continues from where it left off, the SOL price gives investors hope for the coming period.

SOL price has risen back above $100 today. Although the asset has managed to touch $100 several times since the beginning of the year, it has been rejected each time and returned to the $80-90 band.

Technical signals suggest that things could be reversed this time around.

Can SOL last above $100?

SOL is below the $115 level in the early days of the year. However, the current momentum suggests the possibility of a trend reversal.

The relative strength index (RSI) on the daily chart is currently at 50-60. SOL does not cover overbought and oversold conditions. This means that after some consolidation that has been going on for a while, an upside momentum may occur.

Another factor supporting the argument was the 200-day moving average (MA) at 47. This level, which was 100% lower than the current price level, indicated that the asset's long-term potential is high.

SOL's exit from the descending channel it has been in since last December was one of the most positive developments for the course of the asset. This channel represented a bearish price pressure.

If buyers can push SOL higher, the next target will be a test of the $115 resistance level.

At the time of writing, SOL is trading at $100.88, according to CoinMarketCap data.