Solana (SOL) is showing signs of strength

Solana (SOL) is showing signs of strength after bouncing from the critical $100 support zone, gaining more than 10% in recent hours.

Solana (SOL) showed signs of strength on April 10, bouncing from the critical $100 support zone and gaining more than 10% in recent hours.

Solana price analysis showed that the bulls faced some resistance at the $120 zone, where sellers stepped back in after the initial rally.

Solana (SOL) price analysis showed signs of strength on April 10, bouncing from the critical $100 support zone and gaining more than 10% in recent hours.

Recent market momentum favored Bitcoin and Ethereum, and SOL followed suit with similar bullish moves. However, Solana faced a stiff resistance wall at the $120 zone, where sellers stepped back in.

Trend reversal confirmed? SOL breaks key trend line

On the hourly chart, Solana broke above a connecting bearish trend line at $107, confirming short-term bullish momentum. This move was accompanied by strong buying volume, pushing SOL as high as $120.10 before some profit-taking kicked in.

The pair also pulled back slightly, trading below the 23.6% Fib retracement level from the $101.24 swing low to the $120.10 high.

Solana price could continue to rise if it breaks above the 38.2% Fib level at $116.68.

What's holding Solana back?

Solana price was now facing resistance at:

A clear move above the $125 zone could unlock the next leg toward $132 and possibly $140, where previous supply zones could re-emerge.

What if SOL fails to break $120?

If buyers couldn't sustain momentum above the $120 zone, then a retracement was likely.

A close below the $105 zone would weaken short-term bullish structure and could send SOL back toward the $100 zone—the level that previously triggered the bounce.

Technical indicators snapshot

Analyst take

Traders were watching closely as SOL consolidated below a critical breakout level. A decisive move above the $120 zone could kickstart another altcoin leg higher, especially if Bitcoin continued to hold above the $80K zone.

However, failure to break higher could pull Solana back into the $100-$110 range, forming a broader consolidation pattern.