Recently, Solana has been steadily bottoming above $120, subsequently following BTC and ETH to rise, briefly peaking at $143.06, approaching the key resistance area of $145, indicating strong bullish intent.
Fibonacci retracement shows support, with the bullish trend line being key.
Currently, SOL is maintaining above $130 and the 100-hour moving average. Although the price has slightly retreated from its highs, it is still above the 76.4% retracement level of the upward segment in the $135-143 range.
At the same time, a bullish trend line on the hourly chart provides strong support around $137. If this level holds, the bullish trend can continue.
Breaking through $145 will open up upward space, with the target possibly directly aimed at $165.
If SOL successfully breaks through the resistance zone of $142-145, it is very likely to open an upward channel, with a short-term target pointing towards the significant $150 mark, and further looking at the upward space towards $155 and even $165. From an overall structure perspective, only by firmly standing above $150 can it truly reverse the previous pullback shadow and move towards higher targets.
If the upward momentum is blocked, a short-term pullback test may be on the horizon.
However, if there is resistance again near $142, SOL may retest support, initially focusing on the $138.50 area, followed by the key support of the $137 trend line. If $137 is lost, it may test $132 below, or even revisit $125.
Technical indicators are releasing positive signals, but caution is still needed for sudden fluctuations.
MACD: Bullish momentum is accelerating, indicating that the short-term upward trend is dominant.
RSI: Operating above 50, market momentum leans towards the bulls.
Conclusion
Solana is currently on the eve of a key breakthrough, with prices compressing and building momentum. If the bulls can make a strong push to break through $145, further upward space can be expected; however, if the trend line support is lost, there is still a risk of short-term pullback. At this critical moment, we await the choice of direction!
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