Solana climbed above the $140 mark and now trades near $144 as technical indicators point to potential further gains toward $145 and $150 resistance levels, though traders remain cautious about a possible pullback to support zones around $138.
What Happened; SOL Breaks $140
SOL started its upward move after settling above $132, according to data from Kraken.
The token pushed through resistance at $138, then $140, and eventually $142. It reached a high of $144 before consolidating.
The price now sits above the 100-hourly simple moving average. A bullish trend line has formed with support at $138 on the hourly SOL/USD chart.
Technical data shows the 23.6% Fibonacci retracement level of the move from $135 to $144 is holding.
The hourly MACD shows bullish momentum, and the RSI remains above 50.
Also Read: Cardano Long-Term Holders Sell While Short-Term Traders Buy The Dip — What's Next For ADA?
Why It Matters; Resistance Test Ahead
The immediate resistance sits at $145. A break above $150 could open the path toward $162 and eventually $170.
On the downside, traders are watching $140 as initial support. This level coincides with the 50% Fibonacci retracement of the recent rally.
A breach below $138 could send the price toward $132.
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