$Solana (SOL) is testing a critical technical
threshold after staging a recovery from its recent dip. The cryptocurrency
climbed back above $125 following a bounce near $117, but momentum has stalled
at a key resistance zone. Here’s what traders need to know as SOL approaches a
potential directional decision.


📉 Recovery Stalls at $128 – Key Resistance in
Play

SOL’s rebound from $117 pushed it past the 50%
Fibonacci retracement level of its recent decline, reclaiming the 100-hour SMA
in the process. However, bullish momentum has weakened near $127–$128,
where a bearish trendline aligns with the 61.8% Fibonacci retracement level.
Until SOL closes decisively above $130, the recovery remains
vulnerable to a pullback.

⚖️ Critical Levels: Resistance vs. Support      
Upper
Resistance:

o    Immediate: $128–$130

o    Secondary: $135

o    Major: $144

Lower
Support:

o    Near-term: $125 → $122

o    Critical: $117 (recent low)

o    Breakdown Target: $108 if
$117 fails

📊 Indicator Outlook: Cautiously Optimistic       
MACD: Building bullish momentum on the hourly
chart.

RSI: Above 50, but not yet overbought.

Volume: Needs to expand on a breakout above $130
to confirm bullish continuation.

🎯 Trading Scenario Breakdown

1.    Bullish Breakout: A sustained move above $130 with
increasing volume could propel SOL toward $135–$144, with $150 as
the next major target.

2.    Rejection & Retrace: Failure to clear $128–$130 may
trigger a pullback toward $122–$120, with a break below $117
opening the door to $108.

🛡️ Risk & Position Considerations

Traders should watch price action closely
around $128–$130:     
Longs: Consider entries above $130 with a stop
below $125.       
Shorts: Look for rejection signals near
$128–$130, targeting $122–$120.      
Key
Takeaway: The next 1–2
daily closes will be crucial in determining whether SOL resumes its
uptrend or revisits lower support.

Bottom
Line:

Solana stands at a technical inflection point. While the recovery from $117
shows resilience, the $128–$130 zone is the immediate
battleground. A breakout could unlock further gains, but a rejection here may
signal another leg down. Trade with clear levels, confirm with volume, and
always manage risk.

Timing the breakout is everything. Watch for a strong close
above $130 or a reversal below $125 for your next move. #sol #solana