Solana Eyes Key Resistance Levels as Momentum Picks Up

Solana's price has been on the rise after climbing back from its low of around $60. The token currently trades near $103, down about 0.18% over the past 24 hours.

The shift in momentum is reflected in Solana's monthly candlestick chart, which shows a green candle for the first time in ten months. Analyst Ash Crypto pointed out that the monthly MACD is nearing a bullish crossover and the monthly RSI has broken above a downward trendline that had held for close to two years.

The key resistance levels to watch are $120 and $146, according to analyst Ucan Coin. If Solana can hold above $100 and the MACD crossover confirms, it could add support to the case for a longer recovery taking shape.

Looking at the daily chart, Solana has already broken through the $97.70 resistance level, which now acts as the first layer of support under the price. A drop below that level could pull the price back toward $81.35.

The longer-term chart shows a large flag pattern, according to analyst CryptoCurb. A breakout from this pattern could eventually lead to a much larger move, with a projection above $1,000, but that scenario remains speculative and requires a fresh expansion phase on the higher timeframe chart.