SOL Technical Analysis: Bulls Deny To Stay Under $100

The SOL coin price regains the bullish momentum near the $90 support level and breaks above the $100 mark. The coin price has been within the $90-$120 range for the past month, but the recent increase in bullish growth hints at a possible double bottom pattern. Will the bullish pattern give a break above the sideways range? Key technical points: The coin price rises higher with the demand met near the $90 support level. The Stochastic RSI indicator gives a bullish crossover in the SOL/USD daily chart. The 24-hour trading volume in the Solana token is $1.99 Billion, indicating a 50% rise. Past Performance of SOL SOL coin price trades at $101.86 with a price jump of 8.12% in the last 24 hours, resulting in a bullish reversal from the $90 mark. As we mentioned in our previous article, the coin price continues to reach the resistance trendline of the falling expanding channel. However, the recent jump in bullish momentum shows the possibility of a bullish breakout. Source-Tradingview SOL Technical Analysis The SOL coin price continues to take support from the $90 mark and forms a double bottom pattern with the neckline at the $120 mark. Hence, traders can find bullish entry opportunities with the breakout of the $120 mark. The RSI Indicator shows a sudden rise in the slope as it approaches the 14-day average and may shortly reach the 50% mark. Moreover, the slope shows a bullish divergence in the double bottom pattern. The Stochas...