BULLISH 📈 : Solana price recovers, breaks $81 resistance on upward trend
Solana's price is recovering after failing to sustain above $85, now showing positive signs from a low of $76.
- SOL began a recovery wave above $78 and $80 against the US Dollar.
- Trading above $80 and the 100-hourly simple moving average.
- Broke above a key bearish trend line at $81 on the hourly chart.
- Potential for further upward movement if it surpasses $82 and $84.
Solana Price Recovery Attempt
Solana stabilized and initiated a recovery above $78, similar to Bitcoin and Ethereum. It climbed above $80, breaking the 50% Fib retracement level from $86.68 down to $75.64, and surpassed a bearish trend line at $81.
Bears remain active near $82.50, aligning with the 61.8% Fib level. Solana trades above $80 and the 100-hourly simple moving average.
Resistance levels are at $82, $84, and $85. A close above $85 could lead to further increases towards $92 and possibly $95.
Potential Decline?
If SOL fails to breach $82, it might decline. Initial support is around $80, with major support at $79. Falling below $79 could push prices towards $77 or even $74.
Technical Indicators:
- MACD is gaining pace in the bullish zone.
- RSI is above 50.
Support Levels: $80, $77
Resistance Levels: $82, $85