The post Solana Bulls Aim to Push Price Above $125 After Breaking Through Key Trendline Resistance appeared on BitcoinEthereumNews.com. Key Insights: Solana targetsThe post Solana Bulls Aim to Push Price Above $125 After Breaking Through Key Trendline Resistance appeared on BitcoinEthereumNews.com. Key Insights: Solana targets

Solana Bulls Aim to Push Price Above $125 After Breaking Through Key Trendline Resistance

Key Insights:

  • Solana targets $125 with hopes of pushing towards $129 after trendline breakout.
  • Resistance at $133 could cause consolidation, but RSI shows weakening selling pressure.
  • Stable institutional support suggests consolidation rather than a downtrend for Solana.
Solana Bulls Aim to Push Price Above $125 After Breaking Through Key Trendline Resistance 4

Solana (SOL) price has recently broken through a significant trendline, prompting traders to focus on potential upward movement. As the cryptocurrency attempts to consolidate above this trendline, bulls are targeting the $125 level, with hopes of pushing the price higher. 

Bulls Eye $125 and $129 Resistance Levels

Following the breakout above the trendline resistance, Solana has demonstrated bullish momentum. Traders are now focusing on the critical level of $125 as the next major resistance point. 

Based on Man of Bitcoin analysis, a sustained push above this level could lead to further upward movement, potentially extending toward $129. The price action suggests that the market may continue its upward trajectory, provided it manages to break these levels. 

Analysts have noted that the price is currently testing the trendline and could be setting the stage for further advances. If Solana clears these levels with volume, it may signal the continuation of the current bullish trend.

Resistance Around $133 Level and Weakening Selling Pressure

Despite the optimism, Solana faces a key challenge at the $133 resistance level. This area has historically acted as a zone where selling pressure intensifies, particularly in the previous distribution phase. Market participants are cautious about any significant price movement until this resistance is broken.

Solana Resistance Level | Source: X

According to @pepeisfriend noted that as long as Solana remains below $133, the price could face a pullback or consolidation. While resistance levels present a challenge, technical indicators show that selling pressure may be easing. The Relative Strength Index (RSI) on the daily timeframe indicates a bullish divergence, signaling that downward momentum is slowing. This divergence often suggests that the market could be entering a consolidation phase.

In this context, traders are waiting for clearer confirmation before taking further action. Despite price movements being sideways or slightly lower, the weakening selling pressure could signal that the market is running out of supply.

Institutional Support Remains Stable

Another factor supporting Solana’s position in the market is institutional interest. ETF inflows into Solana have slowed, but there has been no significant outflow of capital. This indicates that large investors continue to hold their positions, despite the recent market fluctuations.

Total SOL Spot ETF Net Inflow | Source: X

The stable ETF flows suggest that institutional support remains intact, and investors are not exiting their positions in significant numbers. If a breakdown were occurring, analysts argue that substantial outflows would likely be seen, but this has not materialized. Thus, the market may be undergoing a consolidation phase rather than signaling the start of a downtrend.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source: https://coincu.com/analysis/solana-bulls-aim-to-push-price-above-125/

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