Solana price risks pullback as MACD turns bearish

Solana price held near $95 on Aug. 24 after gaining roughly 26% as regulatory optimism, record tokenized-asset value and active network governance votes supported the rally. Summary Solana price gained about 26% after breaking above the former $78 resistance level. SOL faces daily resistance between $97.68 and $98.44 after briefly reaching $102.88. Validators are voting on proposals covering governance, inflation, and transaction fees. Liquidation liquidity is concentrated near $96.30, with another cluster around $93. Solana price action today According to data from crypto.news, Solana (SOL) price traded at $94.71 at press time on Aug. 24. The token had risen from around $75 before accelerating above $78 on Aug. 19. On the 4-hour chart, SOL extended the breakout through $83.49 and $88.06, corresponding to the 50% and 61.8% Fibonacci retracement levels measured from $64.09 to $102.88. The rally briefly carried the price above $100 before sellers forced it back toward $88. Solana price 4-hour chart — Aug. 24 | Source: crypto.news Buyers subsequently defended the pullback and returned SOL to the $94.58 Fibonacci level. Price was consolidating slightly above that mark at the time of th...