Solana recently tested a support level at $135 and is correcting losses. Currently, SOL is trading below $145 and the 100-hourly simple moving average. The breaking of a bearish trend line with resistance at $139 suggests a possible fresh increase in value.
Should SOL surpass crucial resistance barriers at $144, and ultimately at $150 and $152, it is poised for a potential rally. This move could steer the price towards a new resistance level near $162, and further gains could see the price reaching $175.
If SOL struggles to clear the $144 mark, a decline might unfold. The initial support is observed near $138, with key support at $134. A breach of the $135 barrier could push the currency towards $132, and potentially further to $120 if the downward pressure continues.
Technical indicators observe a bullish momentum in the hourly MACD and RSI for SOL/USD, both supporting a positive outlook in the short term. Major support levels stand at $138 and $135, with resistance pegged at $144 and $150.
