#Solana Price Prediction: SOL Bulls Lose Strength Following the Latest Rejection

Over the past 48 hours, the #Solana price has been oscillating within a relatively tight range, with closing prices hovering around the mid-130s. However, a slight bearish tilt was observed in the most recent session, with the price dipping to 126.76 USDT, suggesting a potential weakening of bullish momentum.

When considering the exponential moving averages (EMAs), the 9 EMA stands at $129.39, while the 20 EMA hovers around $126.14. The proximity of the 9 EMA to the current price signals a bullish sentiment in the short term, albeit with a minor weakening, as the 20 EMA trails below, indicating a longer-term bullish trend consolidation.

Moreover, the Moving Average Convergence Divergence (MACD) indicator further underscores this sentiment. Despite a slight decline in MACD values. On the other hand, the Relative Strength Index (RSI) reflects a slightly overbought condition, with values ranging from $53.70 to $62.14 over recent sessions. Although not significantly high, the RSI suggests a cautious approach, as the asset may encounter resistance due to overbought conditions.

In terms of support and resistance levels, the Solana price faces a critical resistance barrier at $135.37. A breakthrough above this level could pave the way for further upside potential, possibly towards the next resistance at $141.75. Conversely, if bearish pressure intensifies, support levels at $111.75 and $108.65 should be closely monitored.

For traders considering long positions, an entry point could be strategized upon a confirmed breakout above the resistance at $135.37, with potential exit targets at subsequent resistance levels. Conversely, short positions may be considered if the price breaches below key support levels, with exit points aligned with lower support levels.

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