Solana (SOL) is testing significant support near the $146-$148 demand zone after retracing from a recent peak of $159.99. This consolidation phase has drawn attention as historical price action validates this range as a critical technical support area where buyer activity traditionally intensifies.
Market fundamentals show resilience despite recent fluctuations, with Solana’s market capitalization maintaining strength at $79.18 billion. This stability persists even as 24-hour trading volume contracted by 31.56% to $2.34 billion. Technical indicators reinforce the positive outlook, with improving Relative Strength Index (RSI) readings and bullish Moving Average Convergence Divergence (MACD) signals suggesting building upward momentum.
The immediate resistance ceiling lies at $154.21, with market observers noting that a confirmed break above this threshold could catalyze renewed bullish momentum. Should SOL sustain levels above $154, the next significant resistance awaits at $159.99, potentially marking a retest of recent highs.