Solana price is testing whether $120 can become support after a strong rally, with $146 in sight if buyers hold the breakout despite signs of slowing momentum.
Solana price is showing renewed strength after pushing back above the $120 level, with both short-term momentum and the broader technical structure beginning to improve. The latest move is being supported by several technical developments. According to Brave New Coin data, SOL is trading near $120.38, up around 3.53% over the past 24 hours after moving between $115.92 and $122.75.
Solana Breaks Above 7-Day and 30-Day Moving Averages
Solana’s short-term trend has strengthened considerably, with price now trading above both the 7-day and 30-day moving averages. The latest chart from 10x Research shows SOL around $121, with both moving averages starting to slope higher after the summer lows.
Trading above both averages suggests that near-term momentum has shifted back towards buyers. The shorter 7-day average has accelerated above the 30-day trend, while price continues to hold above both indicators.
For the current move to remain positive, SOL should ideally hold above the rising moving-average structure during any pullback. Losing those averages again would signal weaker momentum, while continued strength above them would support another expansion higher.
Solana is trading above both its 7-day and 30-day moving averages as short-term momentum continues improving. Source: 10x Research via X
SOL Tests Major Historical Resistance Around 120
SOL is now approaching an important higher-timeframe zone. Altcoin Sherpa’s weekly chart shows Solana price trading near $119, just below the horizontal level around $121.66 that previously acted as a major support and resistance area during earlier parts of the cycle.
Solana is testing the key $121.66 historical resistance level, with a confirmed breakout potentially opening the next major zone around $144.80. Source: Altcoin Sherpa via X
The chart also highlights how Solana price has reacted strongly after reclaiming similar historical levels in the past. During the 2023 recovery, price pushed through a major former resistance zone and later expanded sharply higher. The current setup is beginning to resemble that transition, but SOL still needs a convincing weekly move above $121-$122 before the comparison becomes stronger.
If buyers secure acceptance above $121.66, the next major higher-timeframe resistance sits around $144.80. Failure to break the current level, however, could lead to another consolidation or retest of the recent breakout area before another attempt higher.
SOL Price Prediction Targeting $146
The recovery is also beginning to open a clearer upside path on the daily chart. Pentoshi highlights SOL steadily grinding higher after establishing a broader base around the $70-$80 region, with price now approaching the next major resistance area.
The chart places the larger overhead level near $146.14. That area previously acted as an important support and resistance region, making it a natural higher-timeframe target if SOL can continue holding above $115-$120.
Solana’s continued recovery is bringing the $146 region back into focus as the next major higher-timeframe resistance. Source: Pentoshi via X
Before $146 becomes an immediate objective, price still needs to maintain momentum through the current $120-$123 area. Continued acceptance above this zone could open $130 and $140 before the larger $146 resistance comes into play.
Contrary View: Strength Holding, but Momentum Getting Slower
Solana is still holding its recent breakout, but the four-hour chart is beginning to show signs that the move may be losing some momentum. Price has continued pushing higher towards the $121-$123 region, yet the advance is becoming more stretched after the sharp recovery from below $110.
Known crypto analyst Wick points to a developing bearish divergence on the momentum indicator while SOL trades near resistance. The divergence is not fully confirmed yet, but it suggests that price is making progress faster than underlying momentum. That raises the possibility of consolidation or a short-term pullback before SOL can attempt another sustained move higher.
The chart also shows nearby support around $115, followed by a stronger zone around $110-$108. If SOL fails to hold above the current breakout area, these levels could come back into focus. For now, the trend remains intact, but momentum is no longer strengthening at the same pace as price.
Solana continues to hold above its recent breakout, but developing bearish divergence and nearby resistance suggest the rally could be entering a slower phase. Source: Wick via X
Solana Fundamentals Strengthen Alongside the Price Recovery
The improving technical picture is being supported by stronger developments around the Solana ecosystem. U.S. Spot Solana ETFs have extended their inflow streak to 12 consecutive weeks, showing continued investor demand despite broader market uncertainty.
The report also highlights growing activity around tokenized equities on Solana, adding to the network’s expanding real-world asset narrative.
Sentiment has also received support from progress around Alpenglow, Solana’s upcoming consensus protocol, which is reportedly moving towards a testnet. These developments do not guarantee higher SOL prices, but they provide a stronger fundamental backdrop while the technical structure continues to recover.
Final Thoughts: Can SOL Turn $120 Into Support?
Solana’s latest rally has brought price directly into an important decision zone. The move above $115 has improved the structure, but the next step is turning the $115-$120 area into support rather than immediately falling back beneath it.
Solana price trades at $120.38, up 3.53% in the last 24 hours. Source: SOL price via Brave New Coin
A successful retest would keep $125-$130 in focus and increase the probability of an extension towards $140-$145. The current breakout would become considerably stronger if buyers continue defending dips above the former resistance zone.
If SOL loses $115, however, the market could return towards $108-$110 before another recovery attempt develops. A deeper move below that area would weaken the current breakout and suggest the rally needs more consolidation before continuing.
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