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Solana’s Rally Approaches Key $146 Resistance – Breakout or Rejection Next?

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Solana (SOL) is buying and selling close to $140 with a 24-hour acquire of two% and a 7-day acquire of virtually 11%. Daily quantity is over $5.5 billion.

Despite the current bounce, the asset stays beneath a key resistance degree, which analysts say might resolve whether or not the development continues or stalls.

$146 Marks a Key Level

Analyst Man of Bitcoin views the current rise as corrective. He famous that so long as SOL stays below $146, there’s an opportunity the downtrend resumes. His chart exhibits a wave construction the place the present transfer matches inside a wave-4 correction. If that’s correct, a fifth wave decrease might nonetheless play out. He marked attainable draw back targets close to $118 and $107.

The $146–$149 space is being watched. An in depth above this zone would weaken the bearish view. Until then, the construction stays susceptible to reversal.

Elsewhere, CryptoCurb pointed to a MACD purchase sign on the 3-day chart, the primary since April 2025 when SOL traded close to $95. At the time, that sign preceded a robust rally. With SOL now round $138, they wrote, “$200+ with haste,” suggesting that momentum is constructing once more.

The MACD crossover provides weight to the bullish aspect, however affirmation would wish a break of near-term resistance. Until that occurs, merchants are treating the transfer with warning.

Whale Activity and Network Flows

Large pockets holders have elevated publicity, in response to on-chain information. CW said,

“Whales are rising their lengthy positions in anticipating $SOL rise.”

Stablecoin provide on Solana has additionally grown, now totaling greater than $15 billion, primarily based on DefiLlama information. This typically displays elevated utilization and capital circulate into the ecosystem.

Reports from CryptoPotato show regular accumulation by bigger accounts. These wallets have been lively since early January, suggesting a shift in sentiment amongst long-term holders.

Meanwhile, institutional demand for SOL continues to develop. CryptoBusy reported that ETFs and different structured merchandise now maintain over 28 million SOL, price $3.81 billion. This demand has remained regular via current value swings.

The publish Solana’s Rally Approaches Key $146 Resistance – Breakout or Rejection Next? appeared first on CryptoPotato.

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