• Solana $SOL maintains a bullish setup within $134–$138 range, eyeing wave B support for upward continuation.

• Overhead resistance at $144–$148 remains pivotal, with a breakout potentially driving prices to $150.

• SOL’s patterns mirror Ethereum $ETH, showing accumulation phases that preceded strong rallies, backed by on-chain activity exceeding $5.4 billion in trading volume.

Solana $SOL price nears $137 support in corrective phase—will it break out to $150? Explore key levels and ETH-like momentum in this analysis. Stay updated on SOL trends.

What Is the Solana $SOL Price Outlook After Recent Pullback?

Solana $SOL is currently trading in a tight range between $134 and $138, following a sharp corrective pullback from highs near $146–$163. This phase aligns with an ABC corrective pattern within a larger bullish Elliott Wave structure, where wave B support could stabilize prices for a renewed upward move. Analysts from sources like More Crypto Online indicate that holding above $132.59 reinforces the long-term bullish trend, potentially targeting $150 if resistance breaks.

How Does Solana $SOL’s Technical Structure Support a Bullish Breakout?

Solana $SOL’s price action features a rising diagonal trendline since late November, providing consistent support during pullbacks. Fibonacci retracements highlight strong zones at $131–$134, with deeper support near $128, though an extension to $118 is less probable. Maintaining these levels preserves the impulsive wave structure, as noted in Elliott Wave analyses.

The Stochastic RSI indicator, hovering between 70–80, suggests short-term overbought conditions but no sharp reversal. A reset to 20–30 while respecting the trendline could build momentum. Overhead supply at $144–$148 has caused rejections, yet thinning wicks indicate weakening resistance. A break above $145 could efficiently reach the $150 Fibonacci cluster, according to technical experts.

On-chain metrics further bolster this outlook, with over 21,000 new coins deployed on Solana in the last 24 hours. Trading volume across chains surpassed $5.4 billion, reflecting robust network participation and accumulation similar to pre-breakout phases in other assets.

Frequently Asked Questions

What Are the Key Support and Resistance Levels for Solana $SOL?

Solana $SOL’s immediate support lies between $134 and $138 for wave B, with stronger confluence at $131–$134 based on Fibonacci levels. Resistance clusters at $144–$148, where a decisive break could propel prices toward $150, as observed in recent chart patterns.

Is Solana $SOL Following Ethereum $ETH’s Path to a Breakout?

Yes, Solana $SOL exhibits structural similarities to Ethereum $ETH, including tightening accumulation ranges and support tests before rallies. ETH’s push past $3,250 after consolidation mirrors SOL’s current setup, potentially unlocking momentum to $150 with sustained buying pressure.

Key Takeaways

• SOL Holds Bullish Structure: Wave B support at $134–$138 preserves Elliott Wave patterns for upward continuation.
• Breakout Targets $150: Clearing $145 resistance aligns with Fibonacci extensions, supported by thinning supply.
• ETH-Like Momentum: Accumulation and high on-chain volume signal potential surge; monitor trendline for entry points.

Conclusion

Solana $SOL’s price analysis reveals a corrective pullback testing critical supports amid a bullish framework, much like Ethereum $ETH’s pre-rally consolidation. With resistance at $144–$148 thinning and on-chain activity surging, a breakout to $150 appears feasible if key levels hold. Investors should watch these zones closely for opportunities in the evolving crypto market.