Solana Faces Critical Resistance at $149
Solana (SOL) has recently bounced back from support near $100. However, it now faces a significant resistance level at $149. This price point is crucial because it’s where the most trading activity has occurred since the start of 2024.
Several factors make $149 a tough barrier. It aligns with the Volume-Weighted Average Price (VWAP) and the 0.618 Fibonacci retracement. These technical indicators suggest strong resistance. Without a strong push, Solana may struggle to break through.
currently, the rally lacks volume. This is a warning sign. Without more buyers, the price may retreat. Lower time frames show signs of rejection. If Solana can’t hold above $149, it may fall back to $113 or even $100.
- Key resistance at $149 due to high trading activity.
- Aligns with VWAP and Fibonacci retracement.
- Weak volume suggests a potential retreat.
If Solana breaks $149, it could rise to $209. But for now, the trend is neutral-to-bearish. Traders should be cautious. Watch for a strong move above $149 to confirm a bullish shift.
For more insights, check the Solana USDT Daily Chart.
