Solana (SOL) Faces Stiff Resistance at $151 Despite Recovery Rally

Solana (SOL) continues to struggle with a persistent resistance near $151, despite several bullish attempts. Currently trading around $147, SOL has been unable to break above the 100-day Exponential Moving Average (EMA), now acting as a psychological barrier. This ongoing failure to overcome resistance is casting doubt on the strength of Solana’s recent recovery from its March lows.

The lack of trading volume behind the price move highlights waning momentum, suggesting that traders may be locking in profits or avoiding new positions at current levels. While the Relative Strength Index (RSI) stands at 59—implying a neutral-to-bullish sentiment—it still reflects a lack of decisive buying power to push through key resistance.

The 200 EMA, positioned at $161, looms as another significant hurdle. Historically, this level has triggered strong market reactions, and without a break above the 100 EMA, aiming for the 200 EMA may be overly optimistic. Chart patterns are also showing signs of weakness, with a potential fading bullish pennant or wedge formation. A drop below the $142 level could invalidate the current uptrend, opening the door for a pullback toward the $133 support zone.

Solana’s recent price behavior reflects a fragile bullish structure, where the inability to generate breakout momentum at resistance levels could lead to a deeper retracement. For investors and traders watching SOL, key technical levels like $142 and $151 will be crucial in determining short-term direction. Until volume and conviction return, Solana remains trapped below resistance, stalling its chance for a stronger upward breakout.