Headline: Solana stalls at $132 as bulls try to build on a bounce above $126 Solana (SOL) has kicked off a modest recovery after finding support around $124–$126, but momentum is running into resistance around the $130–$132 area. Data from Kraken shows SOL is consolidating under the 100-hour simple moving average and a bearish trend line that sits near $132 on the hourly chart — a clear battleground for the next directional move. What happened - SOL rallied off the $124 low and climbed above $126 and $128, briefly trading north of $130. That recovery mirrored gains seen in Bitcoin and Ethereum. - The bounce cleared the 23.6% Fibonacci retracement of the $136→$124 decline, but mounting selling pressure has kept prices below the 100-hour SMA and near stronger retracement levels. Key levels to watch - Immediate resistance: $130 (also the 100-hour SMA) and the 61.8% Fib retracement. - Near-term hurdle: the bearish trend line around $132. - Major upside targets: $135 (a key breakout level), then $144 and $150 if momentum accelerates. - Immediate support: $126 and $124. - If downside accelerates: a break under $124 could expose $116, with $108 as the next zone of interest. Technical readout - Hourly MACD is still in the bearish area, though attention is on whether it can roll over or flatten as bulls try to reclaim momentum. - Hourly RSI sits below 50, indicating neutral-to-weak short-term momentum. Takeaway The $130–$132 zone is the critical test for Solana. A sustained move above $132 (and ideally a close above $135) would shift the short-term outlook back in favor of bulls and open the path toward $144–$150. Failure to overcome resistance risks a slide back to $124 and potentially lower support levels. Traders should watch price action around the 100-hour SMA and the bearish trend line on the hourly chart for clues. Read more AI-generated news on: undefined/news

#BTC #ETH