Solana (SOL) Coils Like a Spring—Whispers of a Breakout Grow Louder

Solana’s price action has been tighter than a VC’s purse strings lately—trading sideways while the broader market holds its breath. But don’t let the calm fool you. Technicals hint at a buildup of pressure, and history favors the bold (or the overleveraged).

Key indicators flash bullish divergence beneath the surface. Volume upticks on minor dips suggest accumulation, while SOL’s resilience above key support levels defies the usual ’sell the news’ circus. Even the stodgiest chartists are eyeing Fibonacci levels like a hawk.

Of course, in crypto, ’imminent’ could mean minutes or months—watch those liquidation clusters. And remember: when traders start citing ’macro tailwinds,’ it’s often code for ’I need a narrative to justify this YOLO.’

Solana Price Consolidates Gains

Solana price formed a base above the $135 support and started a fresh increase, like Bitcoin and Ethereum. SOL gained pace for a move above the $140 and $142 resistance levels.

The pair even spiked toward the $155 resistance zone. A high was formed at $153.30 before there was a pullback. The price dipped below $150. A low was formed at $145 and the price started a consolidation phase above the 23.6% Fib retracement level of the downward move from $153.30 swing high to the $145.54 low.

Solana is now trading below $152 and the 100-hourly simple moving average. There is also a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair.

On the upside, the price is facing resistance NEAR the $149.50 level. The next major resistance is near the $150 level. The main resistance could be $152 and the 76.4% Fib retracement level of the downward move from $153.30 swing high to the $145.54 low.

A successful close above the $152 resistance zone could set the pace for another steady increase. The next key resistance is $155. Any more gains might send the price toward the $165 level.

Downside Correction in SOL?

If SOL fails to rise above the $150 resistance, it could start another decline. Initial support on the downside is near the $147 zone. The first major support is near the $145 level.

A break below the $145 level might send the price toward the $138 zone. If there is a close below the $138 support, the price could decline toward the $132 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $147 and $145.

Major Resistance Levels – $150 and $155.