$SOL SOL testing the $120 resistance zone
Solana is trading around $116-119, pushing toward the key $120 level that's capped its recent range (7-day high: $119.86). RSI sits deep in overbought territory (71-86 depending on timeframe) — a strong move, but one that historically invites short-term pullback or consolidation.
What's behind the strength: spot inflows topped $28M after clearing $110, and Solana just tripled its transaction size limit (up to 4,096 bytes) for more robust zero-knowledge proofs. Notably, Multicoin Capital's Kyle Samani recently predicted SOL could surpass ETH's market cap, citing low ETH network usage.
Levels to watch: $120 confirmed breakout opens thin volume zones toward $144, then $160. Below $110 would put this recent strength back in question.
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