Solana has started a new growth phase after breaking through important resistance levels at $150 and $155. Currently, SOL is consolidating its upward momentum and facing a significant challenge at the $160 resistance area.

SOL Surges Strongly Above $155

In recent trading hours, SOL has initiated a fairly solid upward trend, surpassing key resistance levels like $150 and then $155. This move is similar to Bitcoin and Ethereum as all three major coins have recorded short-term recoveries.

Currently, the price of SOL is trading steadily above $155 and maintaining above the 100-hour simple moving average – a positive signal for the bullish trend.

On the hourly technical chart, an important upward trend line is forming with support near the $155 area. This indicates that buyers are still in control of the market in the short term.

Strong Resistance at $160 - $162

Despite a strong rebound, SOL is facing significant resistance at the $160 and $162 range. The most recent peak recorded was $159.24, after which the price began to accumulate and fluctuate around this area.

If Solana can convincingly close above the $160 – $162 range, the uptrend may continue towards the next resistance level at $165. If it surpasses the $165 mark, the market could witness a new wave of growth with subsequent targets at $178 and further at $185.

Adjustment Scenario If Unable to Break Through $160

In the event that SOL fails to successfully break above the $160 resistance, a downward adjustment may occur. Initial support is identified around the $155 area, corresponding to the short-term upward trend line.

If it breaks below $155, the next key support level lies at $152 – coinciding with the 61.8% Fibonacci retracement level of the rise from $148 to $160. Losing the $152 mark could lead to a deeper decline towards the $145 support area. If the negative trend continues, SOL may revisit the important support zone at $136.

Technical Indicator

  • MACD on the hourly chart: Accelerating in the positive zone, supporting the recovery.

  • RSI on the hourly chart: Still above the 50 threshold, indicating that buying pressure is dominant.

Summary

Solana shows positive technical signs, but to confirm the medium-term bullish trend, SOL needs to break through the strong resistance at $160 - $162. If it fails, profit-taking pressure could push the price back to lower support areas. Investors should closely monitor the $160 resistance above and the $152 support below to determine the next trend.