Solana Puts $150 in Focus as Bullish Trend Takes Hold

Solana has broken above its $142 resistance zone and is now testing the $150 level, according to technical indicators. The token climbed past both $142 and $145 resistance levels against the U.S. dollar before reaching a high of $148.

The move followed Bitcoin and Ethereum higher after settling above the $135 zone. Solana now trades above its 100-hourly simple moving average, with a bullish trend line forming at $140 support on the hourly chart.

Technical analysis suggests that clearing the $150 resistance could set the stage for a rally toward $155, with subsequent targets at $162 and $170. However, failure to break $148 could trigger a pullback toward $144 initial support, with $143 representing the 50% Fibonacci retracement level.