Solana (SOL) Maintains Upward Momentum Despite Lack of Golden Cross Signal

Solana (SOL) is quietly building momentum at $147, forming higher lows since June despite lacking the traditional golden cross pattern that traders usually watch for.

Solana's doing something interesting right now. While most traders are waiting for that classic golden cross signal - when the 50-day moving average crosses above the 200-day - SOL has been steadily climbing without it. That's pretty impressive when you think about it.

The coin is trading around $147 and trying to stay above that crucial $140 support level. Since June, we've seen a nice pattern of higher lows forming, which basically means buyers are stepping in at better prices each time. This kind of accumulation often leads to bigger moves down the road.

What's encouraging is the RSI sitting at 48, which means SOL isn't overbought yet. There's still room to run if buyers get more aggressive. Plus, the volume has stayed pretty stable during recent pullbacks, suggesting big holders aren't dumping their bags.

Solana (SOL) Faces Tough Resistance Around $160-$165

Here's where things get tricky for Solana. The 100-day and 200-day moving averages are basically sitting on top of each other in the $160-$165 range. That's created a pretty solid ceiling that's been capping rallies for months now.

We've seen SOL try to break above $170 multiple times this quarter, but it keeps getting rejected. That convergence of moving averages is creating a wall that's going to take some serious buying power to break through.

The good news? Volume patterns look healthy. When prices have pulled back recently, we haven't seen panic selling or massive volume spikes. That tells us the bigger players are holding onto their positions, which is usually a good sign.

Key Levels That Matter for SOL's Next Move

Looking ahead, there are three levels every SOL trader should be watching. First up is $140 - this needs to hold as support to keep the uptrend intact. If we break below this, the whole bullish story could fall apart.

Next is that $160-$165 resistance zone. Breaking through here would be huge and could open the door to much higher prices. But it's going to need volume to make it stick.

Finally, there's $170 - the level that's been acting like a brick wall. Getting above this would be a real game-changer and could attract a lot more buying interest.

Right now, SOL is sitting at a crossroads. The accumulation pattern since June looks solid, but those resistance levels are no joke. The next few weeks could determine whether we see a breakout to new highs or another rejection at these key levels.