Solana price forms bullish setup above $96 support

Solana price traded near $97.50 on Aug. 26 after gaining about 14% over seven days, as improving risk appetite, short liquidations, ETF inflows, and network developments pushed SOL above several resistance levels. Summary Solana price climbed from $85.37 on Aug. 20 to a weekly high above $102. Price remains below the $100 resistance while the daily RSI stands at an overbought 79. 4-hour buying pressure remains positive, with CMF at 0.14. Analysts are divided between a rally toward $120 and a correction below $92 Solana price breaks out but stalls below $100 Solana (SOL) price rose from an Aug. 20 opening price of $85.37 to an intraday high above $102.59 on Aug. 25. The move represented an increase of more than 20% at its peak, although profit-taking later pulled SOL back toward $97.50. SOL was still up about 14% over the seven-day period at the time of writing. The rally allowed the token to break above the $87.50 and $93.75 Murrey Math levels, both of which had previously acted as important resistance zones. The daily chart shows that the price briefly crossed the $100 “ultimate resistance” level before sellers forced it lower. SOL also tested the $102–$103 area twice, but buyers ...