Solana (SOL) Faces Resistance at $136 Despite 13% Weekly Gain

Update: April 19 – 2025

Solana (SOL) has experienced a 13% increase over the past week, signaling renewed investor interest. However, the cryptocurrency is encountering significant resistance at the $136 mark, suggesting a possible pause in its upward trajectory.​

Technical Indicators:

• Relative Strength Index (RSI): The RSI has climbed to 60.35, up from 45 two days prior, indicating growing bullish momentum. However, the stabilization of the RSI suggests that this momentum may be plateauing, potentially leading to a period of consolidation.
  
• Bollinger Band Trend (BBTrend): A decline in BBTrend from 17.5 to 5.69 points to decreasing volatility, often a precursor to market consolidation. ​
  
• Exponential Moving Averages (EMAs): The alignment of EMAs indicates a bullish trend, with a potential golden cross on the horizon. This formation could signal a continuation of the upward movement if resistance levels are breached. ​

Market Impact Analysis:

The recent price action in Solana reflects a market at a crossroads. While technical indicators show bullish tendencies, the inability to break through the $136 resistance level raises questions about the sustainability of the current rally. A successful breach could pave the way for further gains, while failure may result in a retracement or sideways movement.​

Investor Commentary:

Investors should monitor Solana’s price action closely, particularly around the $136 resistance level. A decisive move above this threshold could confirm the continuation of the bullish trend, presenting potential entry points. Conversely, signs of weakening momentum may warrant caution, as they could precede a period of consolidation or decline.​

Source: BeInCrypto