Solana Stabilizes at $146–$148 Demand Zone, Eyes $159.99 Resistance

Solana (SOL) has demonstrated resilience by stabilizing within the critical $146–$148 demand zone, indicating potential bullish momentum toward the $159.99 resistance level. This stabilization comes after Solana reached a weekly peak of $159.99 on July 1, followed by a measured retracement that found support near the $146–$148 demand zone. This area, historically linked to previous accumulation phases, has proven pivotal in maintaining price stability. The rebound to $148.05 reflects sustained buying interest, as evidenced by a series of higher lows on the 4-hour chart since the June 23 low of $126.00.

Historical price action confirms the $146–$148 range as a significant support level where buyers have consistently entered the market. Maintaining this zone is critical for preserving the bullish structure. Analyst Suzzy Defi notes that the current retracement aligns with previous upward triggers, suggesting that as long as Solana holds above this demand zone, the potential for renewed upward momentum remains intact.

Short-term technical analysis reveals encouraging signs for Solana’s price trajectory. A bullish moving average crossover on the 1-hour chart coincides with an upward-trending Relative Strength Index (RSI) recovering from oversold levels. Additionally, the Moving Average Convergence Divergence (MACD) indicator confirms a bullish crossover, indicating a likely shift in momentum favoring buyers. Volume metrics are gradually improving, supporting the technical outlook for a potential price increase.

Solana faces immediate resistance at $154.21, with a more significant barrier at the recent high of $159.99. Fibonacci retracement analysis from the $118 to $160 range places key support zones near current price levels, reinforcing the importance of the $146–$148 demand area. A sustained break and close above $154 could catalyze a retest of the $159.99 resistance, potentially signaling a continuation of the bullish trend.

Solana’s price action within the $146–$148 demand zone, combined with supportive technical indicators, suggests a foundation for potential upward movement. Maintaining this critical support level is essential for preserving bullish momentum, with resistance at $154.21 and $159.99 representing key targets. Investors and traders should monitor these levels closely, as a successful breakout could pave the way for further gains in the near term.