Solana Price Rallies Over $110 Level Amidst Bulls Domination

• At the time of writing, SOL is trading at $113.50, up 9.18% in the last 24 hours.
• If the price manages to go past $134 level, then it will likely test $153 resistance level.

There have been several recent discussions on twitter that have highlighted certain weaknesses in the Solana ecosystem. In the middle of all this, sharing insights and interacting with platform users is Anatoly Yakovenko, co-founder of Solana Labs.

In a time when the cryptocurrency sector is worried about lost funds and security breaches, Yakovenko’s addressed a few concerns regarding security on twitter.

The co-founder on twitter helped a worried user who lost money from Phantom wallet. Concerning the Solana security procedure, Yakovenko clarified that linking a wallet did not need the signature of any transactions and encouraged the user to tag Phantom if they needed further help.

Massive Rally

The recent rally has sent Solana (SOL) price soaring past $110. The price of SOL seems to break out to the upside after overcoming the important resistance levels. After finding support around the $100 level, the price of SOL began a new uptrend.

Source: CoinMarketCap

SOL has surpassed Binance Coin in market ranking as its value hits $115. Moreover, interest is on the rise, as seen by the surge in online searches and increasing sales of Solana-based NFTs.

At the time of writing, SOL is trading at $113.50, up 9.18% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 97.29%. 

If the price manages to go past $134 level, then it will likely climb higher to test $153 resistance level. On the other hand, if the price manages to go below $111 level, then the price will likely decline further to test $109 support level.