SOL, $132 Resistance Breakout Critical: What Do Technical Indicators Indicate?

Solana price movement is at a critical point recently. Looking at technical analysis tools, the signals from the DMI (Directional Movement Index) clearly show that the Negative Directional Indicator has crossed above the Positive Directional Indicator (+DI). This is an important warning indicating that downward pressure is present.

Reviewing Current Price Levels

SOL is currently maintaining close to the $120 support zone. When examining Bollinger Bands, it is observed that the price recently touched the lower band and then returned to similar levels. Such movements indicate that significant volatility fluctuations may occur.

Bullish Scenario: What Happens if the $132 Level is Broken?

If SOL successfully breaks the $132 resistance, it could signal the start of a potential trend reversal. In this case, an increase in bullish momentum is expected, and a move towards higher levels could be possible.

Downside Risk Scenario

On the other hand, a drop below the $120 support level would mean a much more serious development. If this break occurs, testing the monthly neckline at $112 could become inevitable. In such a case, selling pressure could rapidly increase, and a deeper downward trend might begin.

In summary, the critical decision point for SOL revolves around the $132 level. While technical indicators clearly reflect the current uncertainty, traders should be prepared for both scenarios.