Solana Guns For $100 Barrier, Will Bulls Win The SOL?

The price of Solana is riding the same wave as cryptocurrencies, stocks, and other risky assets around the world. Investors are hopeful that the present war in Ukraine would come to a conclusion following a meeting between Russia and Ukraine in Belarus. Despite the positive news and outlook, bulls are finding it difficult to break through the important $100 barrier. Solana close to $100 Earlier today, Solana hit a daily high of $96. The asset was one of the top gainers of the day at the time, with gains of up to 6.4 percent. The announcement of a world tour by the group behind the asset’s creation has boosted the asset’s price recently. SOL/USD Daily Ichimoku Kinko Hyo Chart Solana’s price, more than most large cryptocurrencies, is dismal and sad, as it is quite close to a key price level yet unable to attain it easily. Before Solana may enter a clear and established bull market, a substantial cluster of resistance must be broken. SOL/USD trades close to $100. Source: TradingView Continued resistance above $100 at $110 (bottom of the Ichimoku Cloud, Senkou Span A), the 38.2 percent Fibonacci retracement at $112, and the 100 percent Fibonacci expansion at $116 are adding to the bull’s displeasure. This indicates that even if buyers can get Solana to close at $100, upside potential may be limited or perhaps reversed as a result of another set of substantial resistance levels. Related Reading | Lesson...