Solana Price Signals Bullish Expansion Above $137 as RSI Trends Upward

Solana's price is currently above a critical support level of $131, while the Relative Strength Index (RSI) indicates an upward trend. This combination suggests budding bullish momentum, which could lead to significant price growth in the near future. Key factors include ongoing market consolidation and positive developments within the Solana ecosystem.

Key Takeaways

Current Price Action: Solana is trading above the key support level of $131.
Bullish Indicators: The RSI is trending upward, suggesting early accumulation and potential for price expansion.
Market Resilience: Price has remained stable, indicating buying interest and defense of the support zone.
Volume Dynamics: Increased trading activity at the $131 support underscores market confidence.
Potential Targets: A breakout could push Solana’s price towards the $137–$145 range.

SOL price bullish expansion possibility as RSI trends up

Insights into Solana's Price Movement

Solana's price is showing initial signs of a bullish trend, staying above a significant high-time-frame (HTF) support zone at $131. After a period of consolidation, key market indicators suggest the possibility of a breakout towards higher price levels.

The Relative Strength Index (RSI) is emerging as an important signal, forming a clear upward trend often linked to early-stage accumulation. This suggests that buyers are positioning themselves for a potential price rise as the market prepares for the next significant move.

Technical Analysis of Solana's Price

Solana price signals bullish expansion at $137 as RSI begins to up-trend - 1
Source: TradingView

Throughout the week, Solana's price has remained anchored around the $131 HTF support, demonstrating strong resilience despite fluctuations in the broader market. This behavior typically signifies an accumulation phase where buyers steadily absorb selling pressure, preventing the price from dropping further.

The consolidation at this vital support level indicates that market participants are actively defending the zone while readying for a significant structural move. This momentum is bolstered by notable developments in the ecosystem, such as Bhutan's gold-backed TER token being launched on the Solana blockchain, which enhances confidence in the overall network.

A critical factor to consider is the shift in the Point of Control (POC) within the trading volume profile. The POC has moved into alignment with the $131 support zone, suggesting substantial trading activity has occurred at this price point, indicating an ongoing struggle between buyers and sellers.

Momentum indicators further support this positive outlook. The RSI has started to trend upwards, forming higher lows, signaling growing momentum. During price consolidations, uptrending RSIs often indicate quiet accumulation before a price surge. If the RSI continues along this trajectory, it increases the likelihood of a breakout from current market conditions.

Analyzing structural factors, Solana's price action appears robust. It has not dipped below the HTF support or established any new lower lows. Instead, the market is coiling within a narrow range, creating compression. Typically, such phases lead to powerful price expansions, and with key indicators trending positively, an upward resolution seems probable.

In the event of a breakout, Solana might target the $137–$145 range—levels associated with previous resistance and liquidity zones that are likely to be revisited. Given the heavy volume at the support area and the rising momentum indicated by the RSI, any upward movement is expected to be sharp rather than gradual. This potential price movement aligns with positive developments, such as the Coinbase-backed x402 V2 bridging Base, Solana, and card networks for AI-powered payments, which could enhance market sentiment around Solana.

Outlook for Upcoming Price Movements

If Solana can maintain its position above $131 while the RSI continues to trend up, a bullish price expansion towards $137 and possibly higher seems increasingly feasible. Conversely, a failure to hold the $131 level would likely postpone this bullish scenario, leading Solana back into a corrective structure.