Solana Price Struggles to Break Above $150 Resistance Zone

Solana (SOL) Price Analysis

SOL price began a recovery from the $125 support zone against the US Dollar.
Current trading above $130 and the 100-hourly simple moving average.
A bullish trend line forms with support at $134 on the hourly chart.
Potential for fresh increases if the price surpasses the $142 resistance level.

Current Resistance Levels

SOL climbed above the $132 and $140 resistance levels, peaking at $145 before correcting downward. The price has dipped below the 23.6% Fib retracement level of the rise from $125 to $145.

Resistance is noted near $140 and $145. A close above $145 could enable movement towards $150 and potentially $162.

Downward Risks

If SOL does not breach the $142 resistance, it may decline further. Key support levels are at:

$135
$133
Below $133 could lead to a drop toward $125
A close under $125 may push the price towards $114

Technical indicators reveal that the MACD is losing momentum and the RSI is below 50.