Solana breaks above $100 as prices retain above $103: What’s next?

Solana price analysis for March 25, 2022, confirms that the token is holding strong at the $103 price level as chances of the SOL token retaining prices above $100 seem pretty high. Moreover, it is also important to note that as per our SOL price analysis for March 25, 2022, the token might remain above $100 if bulls remain in control of prices. The short-term resistance for SOL is at $105 while support is at $100.

The data from CoinMarketCap shows that the trading volume for SOL surged by 56.10% in the last 24 hours, followed by a 7.86% surge in the market cap. The Market Dominance of the Solana token rose to 1.66%, while the Volume / Market Cap Ratio stands at 0.1089.

The daily candle for Solana was initiated at a price of $102.32 and reached a daily high of $104.75. Furthermore, the daily low for SOL was seen at $100.82, while the price of 1 SOL at the time of writing is $103.48.

Solana price analysis from the daily chart for March 25

Solana price analysis for March 25, 2022, will take into account the readings from 3 of the biggest indicators in the crypto space as chances of losing $100 seem low. 

Source: TradingView

The MACD indicator shows that the MACD line is above the signal line and chances of prices retaining $100 seem high. The MACD histogram is also bullish with green bars.

The RSI indicator reads a value above 64 which means that the bulls are in full control of the price action and chances of Solana breaking above $105 resistance seem high. The gradient of the RSI line suggests that soon we might see SOL reclaim higher.

The price action is also testing the upper end of the Bollinger Bands which means that soon, we might see SOL bulls back in action.

Conclusion

Solana price analysis for March 25, 2022, ends on a bullish note for the token as chances of breaking above $105 are very high for SOL.