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The price of Solana SOL $103.79 Solana 2.21% Market capitalization $60.76 billion VOL. 24 hours $0.15 billion is rising again, starting a new wave after bouncing off the support zone at $ 140. After breaking through the downtrend line at $ 149, the asset strengthened above $ 150 and the 100-hour simple moving average. The current phase is consolidation, which may precede further growth.
The high was recorded at $ 153.90, after which the price dropped slightly to $ 152 and tested the 23.6% Fibonacci retracement level of the move from $ 140 to $ 154. Currently, SOL is trading above $ 150, and the nearest significant resistance is at $ 154 and $ 158. If the price overcomes the latter level, the next targets may be $ 165 and even $ 180.
If the price fails to gain a foothold above $ 154, a local decline is possible. The main support is located at $ 147, and then $ 145, which corresponds to a 50% retracement of the aforementioned momentum. In case of a breakout of $ 145, the price could fall back to $ 140.
From a technical point of view, the MACD indicates that the bullish momentum remains, which supports the scenario of further growth. In case of a breakout of $ 158, we can expect a new upward momentum in the market.
Thus, Solana remains positive, and its price may continue to rise if it does not encounter significant resistance on the way to $ 158.