Crypto: Solana Leads Crypto Recovery With 10% Gain: Is $100 Sol Price Next?

Solana price eyes a potential rise toward the $110-$115 range, according to a confluence of bullish technical and onchain indicators.

Solana’s SOL (SOL) has rallied 10% over the past 24 hours, rising to an intraday high of $86 on Wednesday.

The recovery was accompanied by a leap in futures activity, with SOL’s open interest rising by more than 5% to $5.27 billion.

Analysts are now focusing on the short-term technical setup and fundamental indicators that may signal a major turning point for SOL.

SOL price has risen 10% in 24 hours, fueled by bullishness in the broader market and Solana ETF inflows.

Solana’s symmetrical triangle breakout targets $110 SOL price.

The SOL/USD pair rose as much as 13.6% to $86 on Wednesday from a two-week low of $75 on Tuesday, amid a marketwide recovery.

Bitcoin (BTC), the market leader, was trading at $66,800 at the time of writing, up 5% over the 24 hours. Second-placed Ether (ETH) has gained about 8% on the day to trade just above $1,990. XRP (XRP) has also posted significant daily gains among the top 10 cryptocurrencies, up 6% over the same period.

As a result, the global crypto market capitalization is up 4% on the day to $2.28 trillion on Wednesday.

Solana’s surge today is accompanied by significant short liquidations totaling $15.4 million over the last 24 hours, signaling intense demand-side pressure.

Source: CoinTelegraph