Solana Price Rally Stalls Near $144: Signs to Watch for a Reversal

Solana (SOL) price has shown upward movement over the past week, outperforming many other top cryptocurrencies. It recently climbed toward the $140 mark, backed by strong buyer interest and institutional inflows.

However, the rally has slowed near a critical resistance zone at $144. Market analysts closely monitor this level, as technical and on-chain indicators suggest a potential short-term pullback could occur before any further gains.

TD Sequential Indicator Flags Cooling Momentum Around $144

During the trading period, Solana reached a peak price of $139.79 before encountering aggressive market sales that reduced its value to approximately $138.38. The TD Sequential indicator on the 12-hour chart has generated a selling signal through a green “9” candle pattern.

When such patterns occur, they usually indicate that minor price adjustments or sideways movements will follow. The recent bullish movement could approach an exhaustion point, which points towards weakening purchasing strength.

Ali Martinez, a well-known crypto analyst, shared the chart showing the TD Sequential signal on X. He noted that this could begin a cooling phase for SOL’s recent rally. The price has been supported by a rising trendline on the 4-hour chart, and buyers have consistently stepped in at higher lows.

However, the emergence of this technical signal has made short-term traders cautious, especially as SOL price approaches the $144 resistance.

The $144 zone aligns with previous high-volume trading areas, often serving as supply zones. If the price gets rejected at that level, it could lead to a pullback toward the $130 to $132 region.

As long as the rising trendline holds, Solana price will remain within the bullish structure. Traders are advised to monitor these levels closely for signs of either a breakout or a breakdown.

Glassnode Identifies $129 as Key On-Chain Support Level for SOL Price

Data from Glassnode’s UTXO Realized Price Distribution (URPD) tool shows that the $129 level is essential for Solana price. Many holders acquired tokens around this price, meaning strong buyer interest exists in that range.

If the price falls toward this level, buyers may step in again to protect their positions. Support levels with high buyer concentration often help slow down or reverse downward moves.

Analysts warn that SOL breaking below $129 could increase selling pressure. That’s because stop-loss orders and liquidations may trigger below this support. The price could move toward the $120 range in such a case.

However, the support has remained intact, and SOL continued to trade above the key rising trendline.

On-chain activity also reflects steady accumulation by larger holders. In recent weeks, wholesale wallets and institutional investors, including Janover’s $5 million investment, have added to their SOL positions.

That suggests continued confidence in the token’s long-term performance despite short-term signals pointing to a possible pause or retracement.

A Break Above $144 Could Lead Solana Price to $170 Target

If bulls push SOL above the $144 resistance level with high volume, the next resistance may not appear until the $170 mark. According to URPD data, fewer tokens are held between $144 and $170, which means less selling pressure in that range.

It could allow for a faster upward move, provided the breakout is confirmed with strong momentum. Market conditions also indicate that SOL cryptocurrency has potential price growth opportunities as long as investors succeed in passing through the $144 ceiling.

After the breakout, more market participants, including trading institutions and momentum investors, will enter the market. Analysts believe SOL price advances above $144 would shift the short-term market outlook from neutral to bullish.

Traders should continue monitoring price action near the $144 resistance and watch for signs of increased volume. Following any SOL price reduction that fails to maintain upward momentum, traders’ attention will move toward the $129 support zone.

The token will likely maintain its position from $129 to $144 before traders can confirm any significant movement.

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