The Bitcoin market is on the mend as we approach the weekend. The price of Solana (SOL) reached fresh all-time highs. Solana has flipped Uniswap to the 10th largest cryptocurrency by market capitalization, with a current market valuation of $24.62 billion.

The Solana ecosystem has also experienced rapid expansion, with a number of new NFT initiatives recently launched. Since the beginning of the year, SOL has been on a bullish trend. It began the year at $1.84 and is approaching a fresh ATH as it is inching closer to the $100 mark.

In its weekly report, digital asset company CoinShares reported that Solana, an alternate scaling option to Ethereum, witnessed a record amount of capital inflow during the previous week. 

Solana price Massive Rally !

Solana’s price action accelerated from $58.38 over two months ago, forming firm support at $68 which has formed the foundation for the $75 and $80 upswings. The bulls have now managed to flip another support level at $82, allowing them to launch the price to $93.

Solana has risen slightly in recent sessions, settling near new all-time highs. The 4-hour RSI has yet to confirm overbought circumstances, indicating that new highs could be set. SOL has targeted the $90 mark ahead of the $100 round number if it rises over the most recent record high. 

If the market falls below current levels, the $81.96 level, rather than the $74.74 level, may come into focus. Lowering the price, traders may be drawn to the $66.15 level before reaching the $58.85 level.

SOL/USD attempted to rebound multiple times into the $90 range, but was only met with rejection although the bulls seem to have taken control as it is hovering around the $100 mark. If the upward rally continues then Solana will capture the $100 mark soon.

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Source: https://coinpedia.org/price-analysis/solana-price-inches-closer-to-100-mark/