Solana price steadies near $135 as bulls eye breakout above key resistance zone
Solana price tests $135 as bulls challenge key trendline resistance
Solana is attempting to stabilize above short-term support after a sharp pullback earlier this month. As of June 23, Solana price is trading near $135, up from a recent low of $127 where buyers defended a major structural support zone aligned with the 0.236 Fibonacci level and the lower boundary of the ascending pitchfork on the daily chart.
Highlights
- Solana price rebounds from $127 after testing key confluence support.
- Momentum indicators turn mildly bullish, but $138 remains a key hurdle.
- Break above $141.42 needed to flip trend; failure risks deeper pullback toward $127 and $121.
However, this rebound remains fragile and unconfirmed, with key resistance levels now coming into play.
Bullish signs emerge but resistance caps upside
On the 4-hour timeframe, Solana price action has formed a short-term higher low, and price is now pressing against horizontal resistance and a descending trendline near $136. Indicators show early momentum recovery: the RSI on lower timeframes has moved above 60, the MACD has flipped positive, and the Vortex Indicator (VI) signals a potential trend reversal. However, the Supertrend remains bearish unless SOL closes above $141.42.
SOLUSD price dynamics (Source: TradingView)
Price must decisively reclaim $138.60, a level that marks broken support turned resistance, to open up upside toward $143.77 and $151.92. This region also coincides with previous supply zones and upper Bollinger Band compression areas. Any rejection from this zone may trap bulls and invite fresh selling pressure back toward $130 and $127.
Short-term bias cautiously bullish but fragile
The Solana price today trades just above the VWAP and shows moderate volume expansion, suggesting accumulation but not yet conviction. Failure to clear the $138 region could drag the price back into bearish consolidation. Deeper support lies at $121, and if that breaks, downside risk opens to $115 and $105, where stronger historical demand sits.
Previously discussed Solana forecasts highlighted the critical structure around $127 as a make-or-break level. The current bounce confirms that level's significance, but bulls must now prove strength above $138–$141 to validate a broader recovery.
