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Solana moved higher after holding above $130 and started a steady recovery. The price climbed above $135 as buyers reacted to improving sentiment across the market. The token moved toward the 61.8% Fib retracement level of the drop from the $145 swing high to the $121 low. A bullish trend line formed near $133 and provided support during the move.
SOL traded above $134 and held the 100-hour simple moving average with firm strength. Yet the price approached a major resistance zone near $140 as the market evaluated a critical technical barrier. Could this level determine Solana’s next major direction?
Solana continued its climb while tracking Bitcoin and Ethereum. Traders monitored the 76.4% Fib retracement level of the move from $145 to $121 near $140. This level formed the immediate ceiling for the recovery.
The 2-hour chart showed SOL trading near $138.38 with surrounding levels of $138.15, $138.50, and $137.72. The chart displayed modest intraday fluctuations near 0.12% during the session. Price action stayed firm while buyers attempted to push toward the trendline.
A major descending trendline extended from the $197–$202 region. The line stretched across several weeks, forming a dominant technical structure. SOL respected this trendline repeatedly. A notable rejection formed around November 11 after an attempted breakout.
The trendline guided the entire decline from late October. SOL traded above $195 during that period, as shown at the far-left portion of the chart. The price fell sharply afterward and reached the $121–$123 zone around November 18–19. That area formed the lowest visible consolidation region.
After the decline, SOL formed a steady recovery sequence. Higher lows appeared from November 20 to November 26. The pattern suggested stronger demand as the price moved to retest the trendline once again.
The chart included an upside-down projection box on the right side. It showed a measured target of 35.31 USDT. This represented a 25.20% potential increase. A breakout above $140–$142 could push SOL toward $175–$178. The upper boundary near $177.50 matched the projection range.
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The trendline acted as the key hurdle for the next breakout attempt. Traders watched for decisive movement as SOL approached the zone. Failure to clear the $140 resistance could trigger a new decline.
Initial support sat near the $133 zone. The bullish trend line also intersected this region and offered immediate support. A break below $133 could pressure the market further. The next major support level stood near $128.
A decline under $128 could lead to a move toward the $122 area. Continued losses could drag SOL near the $115 region if the $122 floor fails. These levels marked the downside path based on the current structure.
The chart displayed a color gradient from blue to yellow. Price levels ranged from $119.50 to $212.50 on the right scale. CryptoCove appeared at the bottom right as the chart source.
Solana holds strong above key support as it approaches the major trendline near $140. The price recovery from $121 signals renewed buyer strength, while critical Fib levels guide the next move. Traders should watch the $140 resistance closely, as it may decide SOL’s short-term direction.
