but it can rise again if it gains strength and breaks the resistances R1 $153.3 R2 $157 during this week.

$SOL

🚨 Solana technical analysis 🚨

As of Apr. 29, Solana is trading around $148, showing a slight decline over the past 24 hours but still holding on to its weekly gains. From a technical perspective, indicators present a mixed but cautiously positive outlook.
The daily Relative Strength Index currently stands at 61.36, reflecting neutral momentum with room for further upward movement before entering overbought territory.
However, the presence of a bearish MACD crossover, with the MACD line at 2.73 and the signal line at 8.46, suggests some near-term selling pressure that traders should monitor closely.
Moving averages offer additional context. The 50-day simple moving average (SMA) is positioned at $131, indicating that the intermediate-term trend remains supportive of bullish sentiment. Meanwhile, the 200-day SMA currently stands at $181 levels.
The divergence between shorter- and longer-term averages points to underlying strength in the current rally but also highlights the need for sustained momentum to support longer-term growth.
On the four-hour chart, Solana has been forming a bullish flag pattern near the $145 level. A successful breakout above the immediate resistance at $150 could open the path toward the $160 area.
Weekly timeframes show additional signs of strength. A bullish engulfing pattern has emerged, often seen as a positive signal for continued buyer dominance.
In the immediate term, Solana may test the $160 level if resistance at $150 is cleared with convincing volume. Over the medium term, a range between $180 and $205 appears achievable if technical patterns continue to play out and market conditions stay favorable.

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