Solana (SOL) Aims Recovery Run, $155 Resistance Now Back in Focus
Overview
Solana has initiated a recovery wave, managing to rise above the $132 zone. Currently, the price is consolidating while facing resistance near the $145 level, with a significant focus on the $155 resistance.
Recent Developments
Solana’s price has demonstrated a notable recovery, moving above both the $135 and $140 levels against the US Dollar. This upward movement indicates that SOL is trading above the 100-hourly simple moving average. A key bearish trend line was broken, which had previously acted as resistance at the $140 mark on the hourly chart of the SOL/USD pair.
The price has shown stability, surpassing the $130 threshold and outperforming both Bitcoin and Ethereum during this period. One of the critical milestones achieved was moving above the 23.6% Fibonacci retracement level from the downward move that occurred between the $172 swing high and the $129 low.
Currently, the immediate resistance level is positioned around $145, while the next significant resistance can be found at $150. The main resistance level is identified at $155, which coincides with the 61.8% Fibonacci retracement level of the same downward move. A successful close above this $155 resistance could potentially pave the way for further price increases.
On the downside, if Solana fails to break above the $150 resistance, it may face downward pressure. Initial support is located near the $138 zone, with a more significant support level at $135. A decline below the $135 level could lead the price toward the $128 support zone, and a close beneath this level may result in further declines toward the $120 mark.
Impact on the crypto market
- Solana’s recovery could influence investor sentiment across the crypto market, particularly for altcoins.
- The performance of SOL against Bitcoin and Ethereum may attract more attention to Solana’s ecosystem.
- Resistance levels at $145, $150, and $155 are critical, as they may dictate future price movements.
- The stability shown by Solana might encourage traders to consider similar recovery plays in other cryptocurrencies.
- Support levels at $138 and $135 will be crucial in assessing the strength of Solana’s recovery.
- Overall market dynamics could shift depending on Solana’s ability to maintain its upward trajectory.
Updated: 11/20/2025, 5:23:57 AM
