Key Takeaways:
- SOL price is holding gains above the $142 support zone.
- A major bullish trend line is forming with support at $140 on the daily chart.
- Solana seems to be eyeing a major breakout above the $160 and $162 resistance levels.

Solana (SOL) is rising above $150. The bulls could gain strength if there is a close above the $162 resistance zone.
Solana Price Eyes Major Breakout
In the past few technical analyses, we discussed the importance of the $162 resistance for Solana. The price failed on many occasions and corrected gains. The last dip was toward the $132 support before the bulls emerged.
A low was formed at $133.52 and the price is now rising, like Bitcoin. There was a decent increase above the $142 and $145 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $162.10 swing high to the $133.52 low.

Solana is now showing signs of strength above the 50-day simple moving average (blue) and $148. It is now consolidating near the 76.4% Fib retracement level of the downward move from the $162.10 swing high to the $133.52 low.
Immediate resistance sits near the $158 level. The first major resistance sits near the $160 level. A clear move above the $160 level could send SOL toward the main hurdle at $162.
A successful daily close above the $162 resistance and then a follow-up move above the $168 level could spark heavy bullish moves. The next major resistance is at $180 or the 1.618 Fib extension level of the downward move from the $162.10 swing high to the $133.52 low, above which the bulls might aim for $185.
Recently, Solana announced that USDT is now available on Allbridge. It allows users to easily bridge USDT to other stablecoins from EVM to Solana natively.
Another Rejection for SOL?
Conversely, Solana price might again fail to surpass the $162 resistance and trim gains. Immediate support is near the $148 level. The first major support sits near the $142 level. There is also a connecting bullish trend line forming with support at $140 on the daily chart.
The next major support is near the $132 level. A downside break below the $132 support might resend the price toward the main support at $120 (a multi-touch zone). Any more losses could send SOL toward the $108 support.
Overall, Solana price is gaining strength above $150. However, SOL must settle above $160 and $162 to set the stage for a larger increase in the coming days.