Solana eyes $150 if SOL clears $129; $123–$124 support is decisive
Solana (SOL) trades in the $120–$130 band, recently around $123 after an intraday high near $129. The zone has acted as reliable support, with volume tapering on pullbacks. A daily close above $129 would likely restore momentum and make a move toward $150 plausible. Conversely, failure to hold the $123–$124 area opens downside risk to roughly $115 and potentially the $110–$120 band if selling intensifies. Current indicators point to light selling rather than heavy distribution; staying above $120 preserves the bullish case, while a break below $123–$124 would shift the near-term outlook to cautious or bearish. Traders should monitor volume, daily closes, momentum indicators and on-chain activity for confirmation before committing to directional positions.
Neutral
The combined reporting presents mixed but actionable signals. Bullish case: holding $120–$130, especially a daily close above $129, would likely restore momentum and open a rally toward $150 — a clear near-term upside trigger for traders. Bearish case: failure to defend $123–$124 risks a drop to ~$115 and possibly the $110–$120 band, which could trigger stop-loss cascades and higher volatility. Current indicators (light selling, lower volume on pullbacks) favor neither strong accumulation nor heavy distribution, so immediate impact is limited. For traders this implies a wait-for-confirmation approach: use daily closes, volume spikes, and momentum/RSI signals to time entries. Short-term trades can be sized for higher risk-reward near the $123–$129 pivot; longer-term positions should monitor on-chain activity and broader market catalysts (macro data, altcoin flows) before increasing exposure.