Solana kicked off a fresh leg higher this week, reclaiming the $135 area and consolidating above that level as bulls test the next resistance band around $140. Price action snapshot - SOL pushed above $135 and cleared the $138 mark, trading comfortably above the 100-hour simple moving average on the hourly chart (Kraken). - A contracting triangle has formed on the hourly, with support roughly at $138 — a pattern that often precedes a directional breakout. - Bulls briefly pushed past $140 and even traded near $142 before a pullback tested intraday supports. Upside scenario If buyers can clear the immediate $140 barrier and sustain momentum, the next noteworthy hurdles are $142 and the $145 area. A decisive close above $145 would open the path toward $150 and potentially $155 in a continuation move. Downside risks Failure to reclaim $142 could result in another leg down. Initial support sits around $138 (also the triangle trendline and the 76.4% Fibonacci retracement of the recent $136–$141 move), with stronger support near $136. A break under $136 would likely target $130, and a decisive close below $130 could expose $120 in the near term. Technical read - Hourly MACD: bullish momentum cooling. - Hourly RSI: above 50, indicating underlying buyer control but not overheated. What to watch Traders will be watching for a breakout from the contracting triangle and a clean hourly close above $140–$142 for confirmation of further gains, or a break below $136 for a bearish turn. As always, monitor volume and confirmations before positioning. (Data source: Kraken) Read more AI-generated news on: undefined/news