Solana (SOL) Strengthens Above $135 as Market Sentiment Shifts Back Toward Bulls
Overview
Solana has initiated a recovery wave, climbing above the $135 mark as market sentiment shifts in favor of bullish trends. The price is currently consolidating and faces resistance near the $140 level.
Recent Price Movements
Solana’s price began a recovery above the $132 and $135 levels against the US Dollar, achieving stability in the market. It is now trading above $135 and the 100-hourly simple moving average, indicating a positive shift in momentum. A significant break occurred above a key bearish trend line with resistance at $138 on the hourly chart of the SOL/USD pair, suggesting potential for further upward movement.
The price has also moved above the 61.8% Fibonacci retracement level of the decline from the recent swing high to the low, reinforcing the recovery trend. Immediate resistance is observed near the $140 level, with subsequent major resistance at $142 and the $145 mark. A successful close above $145 could pave the way for continued growth.
Support Levels and Future Outlook
Should Solana fail to break above the $140 resistance, there is potential for a decline. Initial support is located around the $136 zone, with major support at the $134 level. A dip below $134 could lead the price toward the $128 support zone, and further declines could bring it down to the $120 mark.
Impact on the crypto market
- Solana’s recovery above $135 indicates a bullish sentiment shift in the market.
- The break above key resistance levels could encourage further investments in Solana and similar assets.
- The presence of significant support levels may provide a safety net for investors amid potential market volatility.
- The performance of Solana might influence the broader market trends, particularly for other cryptocurrencies like Bitcoin and Ethereum.
- Investors are closely monitoring resistance levels to gauge potential price movements in the near future.
Updated: 12/3/2025, 5:24:26 AM
