Solana Price Rises Above $130 with Potential to Break $142 Resistance

Solana (SOL) Price Update

SOL price is increasing from the $120 support zone.
The price has surpassed $125 and $132 levels against the US Dollar.
Current trading above $130, with a bullish trend line support at $137 on the hourly chart.
A break above the $142 resistance may lead to further increases.

Price Movement

SOL formed a base above $120, gaining over 5%. The price rose towards $145, peaking at $143.06 before a minor retreat. It remains above the 100-hourly simple moving average.

Resistance levels include:

$142: immediate resistance
$145: next major resistance
$150: critical for sustained upward movement
$155 and $165: potential targets if $150 is breached

Potential Decline

If SOL fails to breach $142, it may decline. Key support levels are:

$138.50: initial support
$137: major support aligned with the trend line
$132: significant support zone
$125: further downside target if below $132

Technical Indicators

MACD is bullish for SOL/USD.
RSI is above 50, indicating positive momentum.