Solana's Price Surges 3.6% to $139, Eyes $144 Resistance

Solana's price has recently shown a decisive move above the $135 level, indicating a potential shift towards bullish momentum. This breakout comes after several days of sideways trading within a narrow range between $124 and $135. The recent price action suggests that Solana could be poised for further upward movement, but significant resistance is anticipated near the $144 level, which will be a crucial test for bulls.

According to a social media post by crypto analyst Ali Martinez, Solana's current trading range between $129 and $144 is pivotal for its future direction. Martinez identified $129 as the key support level and $144 as the critical resistance level. This analysis is supported by data from the UTXO Realized Price Distribution (URPD): ATH-Partitioned model, which shows dense clusters of buying and selling activity within this range.

The URPD data indicates that approximately 5.75% of all current realized volume for SOL occurred near the $129 price point, making it a strong support zone. This level's importance was reinforced on April 17 when Solana's price rebounded sharply after briefly dipping to $129. Similarly, the $144 level holds about 5% of the volume, acting as a resistance ceiling in the short term. This price zone previously rejected bullish attempts in late March, confirming it as a short-term barrier for upward momentum.

These two levels form a tightly contested range, and a breakout beyond either boundary will likely determine whether Solana enters a new bullish phase or retraces further. The UTXO Realized Price Distribution (URPD): ATH-Partitioned model is an advanced on-chain metric that maps out where current coin holders acquired their tokens in relation to the all-time high (ATH). High concentrations of realized volume at specific price levels imply significant token acquisitions, which can act as psychological support or resistance.

Market sentiment for Solana is gradually turning bullish, with the recent break above $135 putting the $144 level in focus for the short term. The price could reach $144 this week, or a drawdown in sentiment could bring the $129 level into focus as the key support to hold. At the time of writing, Solana was trading at $139, up by 3.6% in the past 24 hours.