Solana (SOL) is showing strong bullish momentum, recently surpassing the critical $150 mark. A technical analysis indicates that after a prolonged decline in August and early September, SOL found a clear bottom around $120 and has been steadily climbing since.

Currently, SOL is trading above its 50-day Simple Moving Average (SMA), which is considered a positive indicator. The price has established a pattern of higher lows and highs, reinforcing the strength of the ongoing uptrend.

Key resistance levels are identified at $155 and $160. Breaking through these points could open the path to the psychologically significant $190 level. However, given the recent volatility, the upward movement may not be smooth.

Support is now established at $150, a former resistance level. Below this, the $140 range serves as the next significant support zone.

Increased trading volumes during the rally are encouraging, though traders should remain cautious about a possible correction, especially if the price fails to consolidate above $155.

Outlook: If the current momentum continues, SOL could potentially reach $160 in the near term. However, due to the rapid rise, a pullback before further gains is possible. Maintaining support at $150 will be key.

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