Solana price analysis: The price continues to rise, the next target is $150?

After finding strong support zone around the $120 mark, the price of Solana (SOL) has started to recover and is currently in a stabilization trend, aiming to conquer the important resistance level at $142. The price of Solana is rising sharply again. Similar to Bitcoin and Ethereum, Solana has built a solid price foundation around the $120 mark before a strong surge. The upward momentum of SOL became evident after breaking through key resistance levels at $125 and $132. Currently, SOL is trading at the $130 level and is above the 100-hour SMA (, indicating that the upward trend is being maintained. On the hourly chart for the SOL/USD pair, a positive uptrend line appears with support near $137. This trend line is also close to the 76.4% Fibonacci retracement level of the rise from the bottom of $135 to the peak of $143, further reinforcing this support zone. Resistance and potential price increase The price is currently facing the first resistance level at $142. If it surpasses this level, the next resistance will be at zone $145 – where the price has previously reached during the latest surge. However, the biggest obstacle will be the $150 zone. If the price can close steadily above $150, the upward momentum may be extended with the next targets being $155 and further up to $165. Price adjustment scenario On the contrary, if it cannot break through the threshold of $142, the price of SOL may adjust back. The first support zone will be around $138.5, followed by the zone of $137 – coinciding with the upward trend line. If it breaks below $137, it is highly likely that the price will return to test the support level of $132. In the event that the negative trend continues, the price could very well drop significantly to the $125 mark – a strong support level previously. Technical indicator MACD )Hourly chart (: The MACD indicator shows a positive signal, moving in the bullish zone. RSI )Relative Strength Index (: Currently above the 50 threshold, confirming that the upward trend is still being maintained. Important support and resistance levels Main support: $137, $132, $125Main resistance: $142, $145, $150, $155 Conclusion Solana is clearly demonstrating strength in the recovery trend after the recent correction. If it can break through the resistance zone of $142 and especially $150, it is highly likely to open up a new growth cycle. However, investors should also closely monitor the support zone of $137 to early identify any correction signals.