Solana Rebounds Above $105 Level After Severe Selling Pressure

• At the time of writing, SOL is trading at $107.53, up 2.70% in the last 24 hours.
• If the price manages to go past $110 level then it will likely test $115 resistance level.

The Solana (SOL) community is poised at the crossroads of achievement and expectancy as the whispers of 2023 dissipate. A new rivalry between Solana and Ethereum has emerged in response to market events, and it has been the talk of crypto forums lately.

Investors and traders in the crypto market are watching the top assets closely since there are a lot of changes happening. Solana, whose meteoric ascent has won over all eyes, finally surpassed Ethereum in 2023 in terms of Google search interest. The rapid ascent of the token price and other noteworthy changes inside the Solana ecosystem are likely to blame for this shift.

In terms of search attention, Ethereum consistently outpaced Solana throughout the year. Between December 17 and December 23, nevertheless, the numbers shifted, and Solana outscored Ethereum in terms of search interest with 56 points to 50.

Brief Rebound

The recent price increase of Solana encountered an obstacle right over the $120 mark. The exceptionally volatile aspect of the cryptocurrency market was on full display yesterday as the price of SOL dropped almost 8% to roughly $98. Solana fell to fourth place in terms of market value, behind BNB, which rebounded to reclaim the position. 

Source: CoinMarketCap

At the time of writing, SOL is trading at $107.53, up 2.70% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 17.54%. If the price manages to go past $110 level then it will likely climb further to test $115 resistance level. However, if the price goes below $98 level, then it will likely test $93.7 support level.