SOL Technical Analysis: Will Buying Spree Continue Above $100?

SOL coin price surpasses the long-coming resistance trendline but struggles to sustain above the $100 mark. Will the uptrend continue to reach $150? Key technical points: SOL coin price approaches the 100-day EMA. In addition, the RSI slope touches the overbought boundary. Finally, the 24-hour trading volume of Solana is $2.21 Billion, marking a 95% rise. Past Performance of SOL The SOL coin price breaks above the long-coming resistance trendline, and the psychological barrier is $100 as the buying pressure increases with the $90 breakout. The uprising trend struggles to surpass the 100-day EMA as the daily candle shows higher price rejection with wick formation. Source-Tradingview SOL Technical Analysis SOL coin price shows a bullish recovery of 40% last fortnight, resulting in multiple bullish candles above the $100 mark. Moreover, the 90% jump in trading volume showcases growth in buying pressure. The Solana market price outperforms the 50-day EMA but faces resistance from the 100-day EMA as it achieves bearish alignment after a crossover with the 200-day EMA. Hence, the increasing costs face solid supply near the EMAs. RSI Indicator: The indicator shows a continuing hike in the underlying bullishness as the RSI slope continues a long-term uptrend shortly entering the overbought zone. Furthermore, the 14-day SMA continues the reversal trend above the halfway line. MACD Indicator: The increasing intensity of the bullish hist...