Solana Approaches $144 Resistance Amid Concerns Over Support Strength

Solana (SOL) is currently testing a critical resistance level at $144, which has been a barrier since November. The cryptocurrency has been fluctuating between $120 and $144, facing challenges in maintaining the higher range due to market volatility.

Last week, SOL surged 10% towards the $140-$144 zone but dropped to $123 after a correction, testing an ascending support trendline.
Analysts suggest that if SOL maintains its support, a mid-term rally of over 80% is possible.
The recent market rebound saw SOL attempting to breach the local high again, though it faced rejection at $144, a known strong resistance.
If SOL holds the mid-range support at $134-$139, further declines might be avoided. However, breaking below could lead to retests of lower levels, potentially around $117.
Reclaiming the $144 level as support could enable a test of higher levels like $163, where significant selling pressure exists.

Long-term Outlook and Support Concerns

Analysis on longer timeframes shows SOL moving within a macro range of $123 to $296 since early 2024, indicating potential weakening of its crucial support.
A previous rebound from this region resulted in a 140% rally in late 2024, while a second rebound in 2025 was smaller at around 100%, raising concerns about diminishing strength.
If SOL fails to break either the one-year or multi-week downtrend, future rallies might be weaker, suggesting increased distribution risks over time.

Solana, SOL, SOLUSDT