Solana Price Consolidates Gains and Eyes Breakout Above $150 Level

Solana (SOL) Price Summary

SOL price increased above $132 against the US Dollar.
Current trading is above $142 and the 100-hourly simple moving average.
Key bullish trend line support is at $142 on the hourly chart.
Potential for further gains if resistance at $150 is cleared.

Price Movement

SOL remained supported above $125, trading past significant resistance levels of $132, $142, and $145. The price reached a high of $147 before consolidating, remaining above the 23.6% Fib retracement level from the $126 low to the $147 high.

Resistance is noted near $148, with major resistance at $150 and $155. A close above $155 could lead to further increases toward $160 and $165.

Potential Decline Risks

If SOL does not surpass $150, it may decline. Initial support is at $142, with major support at $136, representing the 50% Fib retracement level. A drop below $136 could push the price toward $130 and possibly $125.

Technical Indicators

Hourly MACD shows weakening momentum in the bullish zone.
RSI for SOL/USD remains above 50.
Major support levels are $142 and $136.
Major resistance levels are $148 and $150.