Solana has been consolidating in the $100-$105 range for two weeks and has firmly defended the $100 psychological support level. The S&P 500 rose 1.08% since Thursday’s close while $290.7 million in short positions were liquidated over the past four hours, including $155.15 million from Ethereum alone. The daily chart’s bullish structure was confirmed after breaking above the $98.41 lower high, with the next target at $120, a former support now acting as resistance. To sustain the uptrend, Solana must break through the $107 local resistance, above which the next targets would be $110.6, $114.29 and $120. A breakdown below $94.95 would shift the structure bearish with a risk of retracement toward the $79-$85 zone.
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