Solana Faces Key Resistance After Reclaiming $140, Analysts Skeptical of SOL's Strength

As the cryptocurrency market begins to recover, Solana (SOL) is revisiting an important resistance area that has limited its gains since November. While some analysts predict a short-term increase, others caution that there may be signs of underlying weakness.

Key Takeaways

Solana (SOL) is trying to establish $140 as support while facing resistance around $144.
SOL experienced a 10% rise last week but fell to $123 before testing a critical ascending trendline support.
Analysts express mixed opinions, with some seeing potential for a rally and others highlighting weakening support trends.
For significant growth, Solana needs to surpass downtrends and hold essential support levels to avoid a decline.

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Solana Approaches $144 Resistance Level

Solana is working to establish the $140 range as new support while nearing a significant local resistance for the third time this month. Since mid-November, the cryptocurrency has fluctuated between $120 and $144, facing challenges maintaining its higher price amid ongoing market fluctuations.

Last week, SOL surged 10% towards the $140-$144 range but subsequently fell back to its range lows after a correction on Sunday, reaching a one-week low of $123 on Monday. This dip has tested an ascending trendline that has provided support since 2023.

Crypto analyst Ali Martinez mentioned that every time SOL has touched this crucial trendline during pullbacks, it has experienced notable rebounds in subsequent months. His analysis suggests that if this support holds, the price might rise by more than 80% in the mid-term.

After the market rebound on Tuesday, SOL bounced back up to the range highs and attempted to break above the local range again. Market analyst More Crypto Online noted that Wednesday’s rejection from the $144 level was anticipated, as it has been a strong resistance point for weeks.

The trader reassured investors that as long as the mid-range zone, between $134 and $139, remains supported, there is no need for concern. “This is not a breakdown; it’s merely a sharp initial pullback,” he stated, underscoring that there is currently no evidence of a bearish trend taking precedence.

However, the trader indicated that if SOL were to drop below this mid-range, it could retest recent lows and potentially decline to the $117 area or lower. On the upside, if the bulls manage to reclaim the $144 level as support, it could pave the way for testing higher price points, including the $163 level, where significant selling pressure exists for SOL.

Is SOL’s Key Support Weakening?

On a broader timeframe, analyst Rekt Capital observed that Solana has been trading within a defined macro range between the $123 and $296 levels since early 2024, with the price clustering in this area for a considerable time.

According to Rekt Capital, the sustained presence in this cluster diminishes its potential for distribution and re-accumulation. He emphasized the importance of the 21-month horizontal support level, highlighting that Solana previously recorded a 140% rally during the first major rebound from this zone in Q3 and Q4 of 2024.

During the subsequent rebound, commencing in Q3 2025, SOL experienced a much smaller uplift, approximately 100%, to its local peak in September. The cryptocurrency is now rebounding from this support level, raising concerns about its strength as indications of a declining trend emerge.

“While it is uplifting to witness this rebound, if the current movement results in a weaker rally than previous instances, it may prompt questions surrounding the strength of this support,” Rekt Capital remarked.

For Solana to counter this trend, it needs to break its one-year downtrend or the multi-week downtrend on its weekly chart. “If either of these trendlines remains unbroken, the result will be a smaller rally, as the previous rebound would not have the momentum to push through these downtrends,” he noted.

The analyst concluded that a series of ever-smaller bounce backs would indicate increasing weakness surrounding that support, which could lead to a higher chance of distribution concerning Solana over an extended period.

Solana, SOL, SOLUSDT SOL’s performance on the one-week chart. Source: SOLUSDT on TradingView