Bulls see a change in momentum as Solana (SOL) climbs higher
Solana began a rebound over $120. The SOL price is stabilizing and confronts challenges at $128.
SOL price made a nice comeback over $122 and $124 versus the USD.
The price is over $125 and the 100-hourly SMA.
On the hourly SOL/USD chart, a negative trend line with resistance at $127 is formed.
The price may rise if it breaks $128 and $130. Resistance to Solana Price
Like Bitcoin and Ethereum, Solana price stabilized and recovered from $117. SOL surpassed $120.
It moved over the 50% Fib retracement level of the $134 swing high to $117 low decline. Bullish traders broke $125. Still, bears were aggressive around $127. The hourly SOL/USD data shows a negative trend line with resistance at $127.
Above $125 and the 100-hourly simple moving average, Solana trades. On the upside, $127 is immediate resistance and the 61.8% Fib retracement level of the decline from the $134 swing high to the $117 low.
Near $130 is the next significant resistance. The key resistance may be $135. Close above $135 barrier might start another steady rise. The next hurdle is $144. More advances might push the price beyond $150.
Another SOL Drop? SOL may fall if it fails to break $130. Initial negative support is $125. First significant support is around $122.
Breach below $122 might push price below $117 support. If the price closes below $117, it may fall to $108 soon.
