[Solana expected to rebound to $150: SOL bulls optimistic about positive indicators]

Solana (SOL) price managed to stay above the $120 pivot level. After forming a base above $128, SOL has started a decent rally recently, outperforming Bitcoin and Ethereum over the past two trading days.

SOL price broke the $132 and $135 resistance levels and cleared the 61.8% Fib retracement level of the defeat from $144.15 to $127.88 lows. Additionally, the price broke above a key bearish trend line with resistance located at $136 on the hourly chart of the SOL/USD pair.

Currently, Solana price is trading above the $135 level and above the 100 hourly simple moving average. It is now attempting to break above the 76.4% Fib retracement level of the beatdown from $144.15 to the $127.88 lows.

On the upside, the price may face resistance near the $144 level. The next major resistance is near $150. A successful break above the $150 resistance could set the stage for another steady rise. The next key resistance is near $155. If it rises further, the price could rise to the $162 level.

If SOL fails to break above the $144 resistance, another decline could begin. Initial support on the downside is near the $136 level and the 100 hourly simple moving average. The first major support level is seen near $128, below which the price could test $120. If the price closes below the $120 support, the price may drop to the $112 support in the short term.

#鴉快訊 $SOL @Solana Official