Solana (SOL) Accelerates, Signaling a New Upside
Above $136, Solana rose again. SOL price is stabilizing at $138 and may rise above $142.
SOL began rising beyond $136 and $138 versus the US Dollar.
The price is above $138 and the 100-hour SMA.
SOL/USD broke above a negative trend line with resistance at $137 on the hourly chart.
The pair might gain if it breaks $142 resistance.
Solana Price Gains
Solana price reversed gains from $144 but stayed over $130, outperforming Bitcoin and Ethereum. SOL began rising after a low at $132.
Price rose over $135 to initiate a short-term uptrend. It broke the 50% Fib retracement level of the $143 swing high-to-$132 low decline. In addition, the hourly SOL/USD chart broke over a negative trend line with resistance at $137.
Above $138 and the 100-hourly simple moving average, Solana trades. The upswing faces resistance between $140 and the 76.4% Fib retracement level of the decline from the $143 swing high to the $132 low. Near $142 is the next significant resistance.
The $145 resistance may be key. Close above $145 barrier might start another steady rise. $150 is the next hurdle. More advances might push the price beyond $155.
Another SOL Drop?
SOL may tumble again if it fails to break $140 barrier. Around $138 is first downward support. First big support is around $135.
Breach below $135 might drive price to $132 support zone. If the price closes below $132, it may fall to $124.
Major Support Levels: $138, $135.
Key Resistance Levels: $140, $142.