Solana Bulls Refuse to Back Down as Price Targets $164 Resistance
Solana's price action indicates that bulls are refusing to back down after recent struggles. Despite holding decisively above the $137 support level, buyers have stepped in at key price floors, pushing SOL higher and challenging major resistance zones.
This shift has sparked optimism that Solana can sustain its upward momentum. However, a true breakout will require clearing critical resistance levels that have previously capped gains.
If buyers maintain control and push past these barriers, Solana could see a significant rally unfold. A successful breakout above both the $137 support level and the 100-day Simple Moving Average (SMA) might confirm a stronger recovery.
The renewed strength also brings the $164 resistance level into focus, which SOL is currently targeting. Breaking past this key resistance would signal a shift in short-term sentiment and indicate a broader change in Solana's market structure.