Solana Price Rises 10% Climbing Above $135 Resistance Level

Solana's price is experiencing a recovery wave, trading above $135 and facing resistance around $140.

SOL/USD surpassed key levels at $132 and $135, currently above the 100-hourly simple moving average.
A break above a bearish trend line occurred with resistance at $138.
Potential upward movement if SOL clears resistances at $140 and $142.

Solana Price Jumps 10%

Following Bitcoin and Ethereum's trends, Solana saw a rise from $130 to above $135. It broke the 61.8% Fib retracement level from a $145 high to a $123 low. Trading continues above the 76.4% Fib retracement level of this downward move. Immediate resistance lies at $140.

Solana Price

Key resistances include:

$142, followed by $145
A close above $145 could lead to further gains toward $155 and $162

Potential Decline in SOL?

If SOL fails to surpass $140, it may decline. Initial support is around $136, major support at $134.

A break below $134 might target $128, with potential further decline to $120.

Technical Indicators:

Hourly MACD: Bullish zone momentum
Hourly RSI: Above 50
Support Levels: $136 and $134
Resistance Levels: $140 and $142