Solana has initiated a new upward movement, surpassing the $140 threshold. SOL price is currently consolidating above $140 and could potentially target further gains beyond the $145 level. SOL price has initiated a new upward trajectory, surpassing the $140 and $142 thresholds against the US Dollar. The price is currently trading above $140, surpassing the 100-hourly simple moving average. A bullish trend line is emerging, with support positioned at $138 on the hourly chart of the SOL/USD pair, according to data. The pair may continue to rise if it surpasses the $145 resistance zone.
Solana price initiated a notable rise after establishing itself above the $132 level, surpassing both Bitcoin and Ethereum in performance. SOL surged past the $138 mark, stepping into a brief bullish territory. The price has even broken through the $140 resistance level. The bulls successfully drove the price past the $142 mark. A peak was established at $144, and the price is currently solidifying gains above the 23.6% Fibonacci retracement level of the recent upward movement from the $135 swing low to the $144 high.
Solana is currently trading above $142 and has surpassed the 100-hourly simple moving average. Additionally, a bullish trend line is emerging, with support established at $138 on the hourly chart of the SOL/USD pair. On the upside, the price encounters resistance around $144. The upcoming significant resistance is around the $145 mark. The primary resistance level appears to be $150. A successful close above the $150 resistance zone might pave the way for another steady increase. The upcoming critical resistance level stands at $162. Further gains could propel the price towards the $170 mark.
If SOL does not manage to break through the $145 resistance, it may initiate another downward trend. Initial support on the downside is positioned around the $142 zone. The initial significant support is located around the $140 mark, coinciding with the 50% Fibonacci retracement level of the recent upward movement from the $135 swing low to the $144 peak. A drop beneath the $140 mark could push the price down to the $138 support area and the trend line. A close below the $138 support could trigger a decline toward the $132 support in the near term.