SOL could reclaim $110 amid bullish technical and on-chain signals

Solana (SOL) could recover to the $110 level, as both technical and on-chain indicators are showing bullish signals, Cointelegraph reported. The outlet noted that SOL has surged over 10% in the past 24 hours to trade around $86, with futures open interest rising 5% to approximately $5.27 billion. On its six-hour chart, SOL has broken the upper resistance of a classic triangle pattern. A closing price above $86 could pave the way for a rally to $110. On-chain data suggests limited buying activity above $85, implying thin sell-side resistance. The next major resistance level based on acquisition price is at $115, a point where approximately 22 million SOL have previously been traded. According to CoinMarketCap, SOL is currently trading at $86.28, up 10.65%.