🐂 SOL’s Rebound Gains Traction Market Wants Proof of a Real Bull Turn

Solana began a rebound over $125. The SOL price is consolidating and facing challenges at $135.

SOL price made a nice comeback over $125 and $128 versus the USD.

The price is over $130 and the 100-hourly SMA.

The hourly SOL/USD chart shows a bullish trend line with support at $130.

If $135 and $140 are broken, the price may rise.

Solana Price Aims Recovery

Like Bitcoin and Ethereum, Solana price stabilized and recovered over $125. SOL surpassed $130.

The negative move from the $145 swing high to the $121 low approached the 50% Fib retracement level. The hourly SOL/USD chart shows a bullish trend line with support at $130.

Above $130 and the 100-hourly simple moving average, Solana trades. On the upside, resistance is approaching $135, the 61.8% Fib retracement level of the decline from the $145 swing high to the $121 low.

Near $140 is the next significant resistance. The $145 resistance may be key. Close above $145 barrier might start another steady rise. The next major resistance is $155. More advances might push the price beyond $162.

Another SOL Drop?

SOL may fall if it fails to break $135 resistance. Initially, downside support is at $130. Near $127 is the first big support.

Breach below $127 might push price below $124 support. If the price closes below $124, it may fall below $120.

Major Support Levels: $130, $124.

Key Resistance Levels: $135, $140.

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