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22 hours ago
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Solana Price Recovery Faces Resistance at $138 and $140 Levels

Solana is experiencing a recovery phase, moving above the $132 threshold against the US Dollar. The price currently hovers below $138 and the 100-hourly simple moving average.

  • SOL's price surpassed $130, breaking a bearish trend line at $132 on the SOL/USD hourly chart.
  • The price needs to clear the $138 and $140 resistance levels for further upward momentum.
  • Immediate resistance is at $137, aligning with the 100-hourly SMA and the 50% Fib retracement from $147 to $128.
  • Major resistance points are at $140 and potentially $142, with $150 as a subsequent target.

Solana Price

Potential Downside Risks

  • If SOL fails to break $140, it may decline, with initial support at $132 and major support at $130.
  • A drop below $130 could lead to a decrease towards the $128 or even $120 zone.

Technical Indicators:

  • Hourly MACD: Bullish momentum increasing for SOL/USD.
  • Hourly RSI: Above 50, indicating positive momentum.
  • Key Support Levels: $132 and $130.
  • Key Resistance Levels: $138 and $140.