Solana Bulls Charge Toward Critical Resistance at $164
Solana's price has regained bullish momentum after successfully defending its critical $137 support level. This renewed strength is pushing SOL upward, challenging major resistance zones and sparking optimism for a sustained rally.
The cryptocurrency's buyers are stepping in at key price floors, driving the price higher and targeting the $164 resistance level. A true breakout will require clearing these barriers, but if successful, it could confirm a stronger recovery and trigger a rally toward the $211 resistance zone.
The 100-day Simple Moving Average (SMA) is also coming into focus as a critical barrier that could determine SOL's next move. The Moving Average Convergence Divergence (MACD) indicator is signaling a potential shift in momentum, with the MACD line approaching a crossover above the signal line and a gradual increase in positive movements.