Solana has regained upside momentum after finding support near $132, pushing past several short-term hurdles and now consolidating above $138. The recent move puts SOL in a position to challenge higher resistance levels, with on-chain traders and chart-watchers eyeing a break above $142 for confirmation of further gains. What happened - After correcting from around $144, SOL held above the $130 area—outperforming Bitcoin and Ethereum during the pullback—and formed a low near $132 before starting a fresh rally. - SOL cleared the $136 and $138 marks and is currently trading above the 100-hour simple moving average. - On the hourly chart (Kraken data), the token broke a bearish trend line that had been capping price near $137, supporting the short-term bullish case. - The rally reclaimed the 50% Fibonacci retracement of the drop from the $143 swing high to the $132 low and is now testing the 76.4% Fib near $140. Bullish outlook - Immediate resistance sits around $140 and $142. A decisive close above $142 would likely open the path toward $145, with $150 and $155 as subsequent targets if momentum continues. - Technical momentum is supportive: the hourly MACD has turned bullish and the RSI is above 50, indicating room for continuation. Bearish risks - If SOL fails to clear $140–$142, it could retrace again. Initial support is at $138, with stronger support near $135. - A break below $135 could send price back to $132, and a close under $132 may accelerate a drop toward $124 in the near term. Key levels to watch - Support: $138, $135, $132, $124 - Resistance: $140, $142, $145, $150, $155 Bottom line Solana has regained traction after the recent pullback, flipping several near-term resistances into support. A clean break above $142 would strengthen the bullish case and likely push SOL toward $145–$155. Conversely, failure to hold $135–$138 risks a deeper retracement back toward $124. Read more AI-generated news on: undefined/news

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