Solana Breaks $150 Barrier—Is This Just the Start of a Major Rally?

Solana (SOL) surges past $150, marking its highest price since the 2022 crypto winter. The Ethereum rival now sits at a critical inflection point—can it sustain momentum or is this another ’buy the rumor, sell the news’ trap?

Technical indicators flash bullish: SOL’s trading volume spiked 40% in 24 hours, and open interest in derivatives markets hit a 90-day high. Meanwhile, Bitcoin maximalists grumble about ’altseason distractions’ while quietly rebalancing their portfolios.

The real test? Whether Solana’s network can handle the next wave of meme coin degens without buckling under $5 transaction fees—something our friends in Layer 2 purgatory would kill for.

Solana Price Consolidates Gains

Solana price formed a base above the $140 support and started a fresh increase, like Bitcoin and Ethereum. SOL gained pace for a move above the $142 and $145 resistance levels.

There was a break above a key bearish trend line with resistance at $149 on the hourly chart of the SOL/USD pair. The pair even spiked above the $150 resistance zone. A high was formed at $153.90 and the price is now consolidating gains.

The price dipped below $152 and tested the 23.6% Fib retracement level of the upward move from the $140 swing low to the $154 high. Solana is now trading above $150 and the 100-hourly simple moving average.

On the upside, the price is facing resistance NEAR the $152 level. The next major resistance is near the $154 level. The main resistance could be $158. A successful close above the $158 resistance zone could set the pace for another steady increase. The next key resistance is $165. Any more gains might send the price toward the $180 level.

Downside Correction in SOL?

If SOL fails to rise above the $154 resistance, it could start another decline. Initial support on the downside is near the $150 zone. The first major support is near the $147 level.

A break below the $147 level might send the price toward the $145 zone and the 50% Fib retracement level of the upward move from the $140 swing low to the $154 high. If there is a close below the $145 support, the price could decline toward the $140 support in the near term.

Technical Indicators

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

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

Major Support Levels – $147 and $145.

Major Resistance Levels – $154 and $158.