Solana (SOL) Could Regain Steam: Is a Fresh Rally Ahead?
Solana tested the $135 support and recently corrected losses. SOL price is rising and might gain bullish momentum if it clears the $144 resistance.
- SOL price is attempting a fresh increase from the $135 zone against the US Dollar.
- The price is now trading below $145 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could gain bullish momentum if it breaks the $145 resistance zone.
Solana Price Aims Higher
Solana price climbed above the $146 and $148 levels before the bears appeared. SOL traded as high as $152 and recently saw a fresh decline like Bitcoin and Ethereum .
The price declined below the $145 and $140 support levels. A low was formed at $135.39 and the price is now rising. There was a decent move above the $140 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $152 swing high to the $135.39 low.
There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL/USD pair. Solana is now trading below $145 and the 100-hourly simple moving average.
On the upside, the price is facing resistance near the $144 level. It is close to the 50% Fib retracement level of the downward move from the $152 swing high to the $135.39 low. The next major resistance is near the $146 level. The main resistance could be $150.
Source: SOLUSD on TradingView.comA successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $162. Any more gains might send the price toward the $175 level.
Another Decline in SOL?
If SOL fails to rise above the $144 resistance, it could start another decline. Initial support on the downside is near the $138 level. The first major support is near the $134 level.
A break below the $135 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $138 and $135.
Major Resistance Levels – $144 and $150.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Slowing AI models may not necessarily be bearish: three structural tailwinds for traditional data centers outweigh rising interest rates
HSBC believes that the traditional growth logic of data centers is shifting from frontier model iteration to AI commercialization and diffusion. With the rise in inference demand and increased capital expenditure from cloud service providers, combined with tightening power and regulatory constraints, the supply-demand imbalance is expected to persist until 2028. Even with rising interest rates, the compound annual growth rate of AFFO per share is still expected to reach 11%–12% from 2025 to 2028, demonstrating strong earning resilience.
This time, will U.S. Treasury bonds crash U.S. stocks?
Bloomberg strategist Simon White warns that the recent rise in US Treasury yields is shifting from a "benign" increase driven by interest rate expectations to a disorderly surge fueled by expanding term premium. Market analysts note that higher long-term interest rates will simultaneously push up US stock valuation discount rates and corporate financing costs, intensifying liquidation pressure on highly leveraged assets. If interest rates above 5% become the new norm, US stock valuations will face ongoing compression pressure.
Eurosystem Launches Blockchain Platform for Tokenized Asset Settlements
Crypto prices
More
