Solana Bulls Defend Critical Support, Eye $164 Resistance

Solana's price has regained bullish momentum after successfully defending its critical support level at $137. Buyers have stepped in to protect this key zone, driving the price upward as it targets the $164 resistance level.

The renewed strength also brings the 100-day Simple Moving Average (SMA) into focus, a critical barrier that could determine whether Solana extends its rally. A successful breakout above both levels might confirm a stronger recovery and trigger a rally toward the $211 resistance zone.

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. However, risks remain, and failure to sustain the bullish crossover could lead to another period of consolidation or pullback.