- SOL held the $136.62 support zone while posting a 2.3% 24-hour increase and moving toward the $142.17 resistance.
- The chart showed an impulsive upward move from the “C” point inside the corrective structure, supported by improving RSI momentum.
- The RSI created a bullish divergence previously, which reinforced the rally when price went to the downward trendline and major resistance.
Solana climbed up today and the market saw its first impulsive upward formation in a few weeks. The recent trend came after a prolonged downward trend that brought the price to the such level as the area of support of $136.62. SOL was trading at 140.33 in the session and the token registered a 2.3 percent increase in the past 24 hours. The chart too indicated that the price action has reacted in a wide price-corrective channel which had characterised the market in early November. This movement presented another short-term image since the impaction shifted towards upwards movement from the lowest point of the structure. In addition, the article of 24-hour variation between $136.62 and $142.17 also revealed close conditions, and this kept the traders a close watch on the close levels.
Price Holds Above Key Support
SOL continued to respect the $136.62 support level, and the market treated this zone as an important reference. The level aligned with the lower region of the recent Fibonacci projections, which appeared on the chart.
The rebound developed from the area marked as the “C” point within the drawn structure, and the price advanced toward the descending trendline. Additionally, the 24-hour gain contrasted with the earlier downward sequence, which formed through a series of lower highs. This change helped organize the next stage of the market’s movement because traders monitored whether SOL would maintain strength above support.
Momentum Shows Clear Improvement
The RSI displayed a rising pattern, and it moved higher while price attempted to exit the corrective channel. This shift occurred after the indicator formed a bullish divergence earlier in the move. The divergence appeared while price set lower lows, and RSI created higher lows. This development offered an early signal that momentum changed direction.
Furthermore, the market reacted to this shift as price approached the $142.17 resistance level. The resistance stayed important because it sat near the upper boundary of the short-term rebound.
Focus Turns Toward Immediate Resistance
Traders observed the behavior around $142.17 because the area aligned with the descending trendline drawn from previous highs. A break above the level would place price near the mid-range of the broader structure.
However, failure to move through the zone would keep the chart inside the corrective formation. Because of this, the current move remained closely watched, especially as SOL attempted to extend its early upward momentum while staying above the recent support.
