Solana has initiated a notable upward movement, breaking through key resistance levels and showing signs of sustained momentum. The cryptocurrency has surpassed the $142 level and is currently consolidating above this level, positioning itself to target higher prices. The current price action features a positive trend, supported by the formation of a bullish trend line with support at approximately $140 on the hourly chart.
The recent rally follows a broader upward shift seen across major cryptocurrencies such as Bitcoin and Ethereum , which helped push Solana above the $135 threshold. From there, SOL advanced past the $140 resistance, reaching a high of around $148 before entering a phase of consolidation. This phase saw a mild retracement below the 23.6% Fibonacci retracement level, calculated from the recent swing low of $138 to the peak at $148. Despite this slight pullback, the price remains well above its moving averages, indicating underlying strength.
Resistance levels currently stand at $148 and the more significant zone near $150. A decisive move beyond $150 could see SOL challenge additional resistance up to $155 and later $162, with potential upside targets in the range of $170 if bullish momentum persists. Conversely, failure to clear the $148 hurdle might trigger a corrective phase, with initial support around $144. Should selling pressure deepen, the key support levels are near $143 and $140, with a potential decline to $135 if losses accelerate.
Technical indicators support a bullish outlook. The MACD is showing increasing momentum in the positive zone, while the Relative Strength Index remains above the neutral 50 level. Overall, the chart suggests that Solana is favorably positioned for further upside, provided it maintains support above critical levels and gradually clears resistance zones.
