Solana Price Hits Resistance at $119, What's Next for SOL?

Solana's price has been steadily rising since its June lows, forming a series of higher highs and lows. The SOL price is currently trading around $119, with the momentum showing signs of slowing down near resistance.

The chart shows that Solana has maintained a strong ascending structure, with the lower trendline providing dynamic support. However, the upper boundary of this structure is located at around $127 to $128, which is an important area for a potential breakout.

Technical indicators such as the RSI and MACD suggest that momentum is weakening, but remains within the bullish range. The MACD is currently supporting the broader recovery trend, but does not eliminate the possibility of near-term consolidation.