Solana tested support at $135 and recently corrected losses. SOL price is rising and could gain bullish momentum if it breaks through the resistance at $144.

• SOL price is trying a up-to-date rise from the $135 zone against the US dollar.
• The price is currently below $145 and the 100-hour uncomplicated moving average.
• On the hourly chart, the SOL/USD pair broke above the key bearish trend line with resistance at $139 (data source Kraken).
• The pair could gain bullish momentum if it breaks the resistance zone at $145.

Solana’s price has a higher purpose

Solana’s price rose above the $146 and $148 levels before the bears emerged. SOL traded as high as $152 and recently saw a up-to-date decline, along with Bitcoin and Ethereum.

The price fell below the support levels of $145 and $140. The low was formed at $135.39 and the price is currently rising. There has been a decent move above the $140 level. The price has risen above the 23.6% Fib retracement level, the result of a downward move from a high of $152 to a low of $135.39.

There has been a break above the key bearish trend line with resistance at $139 on the hourly chart of the SOL/USD pair. Solana is currently trading below $145 and the 100-hour uncomplicated moving average.

On the other hand, the price faces resistance near the $144 level. It is close to the 50% Fib retracement level for a move down from the high of $152 to the low of $135.39. The next major resistance is near the $146 level. The main resistance could be $150.

A successful close above the $150 and $152 resistance levels could set the pace for further sustained growth. The next key resistance is around $162. Any further gains could push the price towards the $175 level.

Another SOL decline?

If SOL fails to break above the resistance at $144, another decline could begin. Initial downside support is near the $138 level. The first major support is located near the $134 level.

A break below the $135 level could push the price towards the $132 zone. If a close occurs below the $132 support, the price may drop towards the $120 support in the near future.

Technical indicators

Hourly MACD – MACD for SOL/USD is gaining momentum in the bullish zone.

Hourly 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.