Solana nears $90: $100 possible for SOL?

Solana price analysis comes at a bullish pace for today as the token is nearing the important support zone of $90-$93, and now, the major question is, will SOL reach $100 in the coming days? SOL price analysis for Feb 24, 2022, showed that the token went below $80, but in the last 24 hours the token has surged by more than 9%. However, the fear of the Russia-Ukraine crisis continues to drive the emotion in the market.

The data from CoinMarketCap shows that the trading volume of the token has surged 121.72% in the last 24 hours, followed by a 9.56% price surge in the market cap. It is also important to note that the Market Dominance of the token has a value of 1.66%, while the Volume / Market Cap Ratio stands at 0.1825.

The daily candle for Solana started at a price of $89.15 and reached a daily high of $90.82. Moreover, the daily low for the token stands at a price of $87.57, while the price of 1 SOL at the time of writing is $88.74. 

Solana price analysis for Feb 25 on the daily chart

Solana price analysis for Feb 25 will be implemented using the 3 major indicators in the market, which have been used for ages to predict the market movement.

Source: TradingView

The RSI line has a value of 40.32 which means that bears are still in charge while the gradient of the line is nearly neutral. 

The MACD indicator shows that the MACD line is overlapping with the signal line. Either one of the two can break above as $90 is a critical point for trend reversal for Solana. 

The price action fell to the lower end of the Bollinger Bands and has now rebounded from that level and aims to test the middle zone of the Bands. 

Conclusion

Solana price analysis for Feb 25, 2022, can be confirmed on a bullish note, but risks are not over until SOL holds above $90 and crosses $100.