Solana consolidated above $132 after a recent rally that pushed the cryptocurrency past key resistance levels. The digital asset now faces a critical test at the $145 resistance zone, with technical indicators suggesting the momentum may be cooling despite trading above its 100-hourly moving average.
What Happened: Price Consolidation
SOL started a fresh upward move after settling above the $128 zone, climbing past the $135.
The price broke through $142, entering what technical analysts identify as a short-term positive zone. Solana is now consolidating gains above the 23.6% Fibonacci retracement level of its recent move from a $123 swing low to a $146 high.
A bullish trend line has formed with support at $143 on the hourly chart. The cryptocurrency faces immediate resistance near $145, with the next major barrier at $148. A successful close above $150 could set the stage for gains toward $162, with potential movement to $180 if momentum continues. However, failure to break $145 could trigger a pullback to the $125 support level and the trend line.
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Why It Matters: Technical Crossroads
The current price action places Solana at a decisive technical juncture that could determine its near-term trajectory. The hourly MACD indicator is losing pace in the bullish zone, while the Relative Strength Index remains above 50, suggesting underlying strength despite the consolidation. This creates a scenario where the next move above or below key levels could trigger significant volatility.
The $145 resistance level represents a critical inflection point for traders watching Solana's price action. A break above this zone would likely attract additional buying pressure, potentially accelerating gains toward the psychologically important $150 level and beyond.
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