SOL Smashes Key Resistance with Just 2 Hurdles Remaining

Solana Eyeing $150: SOL Smashes Key Resistance with Just 2 Hurdles Remaining

Solana ($SOL) has broken above the $103 resistance line, trading at $105.22, having gained 5.5% in the day. This marks a major development in terms of the UTXO Realized Price Distribution (URPD) chart. $103.25 was the price at which 39 million $SOL were exchanged, making it a massive threshold to cross in the attempt to establish strong bullish momentum.

Solana faces two barriers to attain $150

Now, according to the same chart, the next overhead resistance lies at $123 and thereafter $132. Both these prices saw about 20 million $SOL acquired and are therefore significant barriers to overcome.

After that, the next major supply zone would be near $150, a price last achieved in mid-November 2025.

Other than upward market movement and positive sentiment, the recent rally has also been supported by several accumulation metrics.

The number of wallets holding at least 10,000 $SOL (whales) has increased by 1.58% in the past week. Additionally, the number of $SOL on exchanges has declined by 4.91% in the same period. This signals a shift to self-custody wallets or decentralized staking, effectively reducing the overall sell-side pressure.

Even more, Solana spot ETF flows turned positive on September 3, averaging 43,000 $SOL in inflows.

The outlook

At 59.25, the Relative Strength Indicator (RSI) shows $SOL is in a neutral-to-bullish territory. Buyers have a slightly larger monopoly at the moment.

Meanwhile, the Moving Average Convergence Divergence (MACD) histogram remains above zero at 5.56, confirming the buildup of upward acceleration.

At this pace, Solana could be primed for $150 should it break above the two ceilings noted and maintain positive whale and institutional uptake.

Source: cryptonews.net