Solana Sees Rebound Above $130, Bulls Face Key Resistance

Following a dip below the $125 mark, Solana has surged back above $130, showcasing strength in the face of recent bearish pressure. Data from Kraken indicates that the crypto asset is currently trading above its 100-hour simple moving average while forming a bullish trend line with support at the $130 level. However, the path to sustainable gains faces significant resistance near $135, marking the 61.8% Fibonacci retracement point from the recent decline.