Solana (SOL) Price Consolidates Below $120 Resistance After Fresh Increase

Edited by: Yuliya Shumai

Solana (SOL) initiated a recovery from the $100 support level but is currently facing resistance around $120. After breaking above a bearish trend line at $107, SOL reached a high of $120.10 before retracing. It's now trading above $105 and the 100-hourly simple moving average. A successful break above $125 could trigger a surge towards $140. Conversely, failure to overcome the $118 resistance might lead to a decline, with initial support at $112 and a potential drop to $100 if $105 is breached.

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