Solana (SOL) Edges Up, Traders Watch For Sustained Upside Move

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Reason to trust How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana started a fresh increase above the $86 zone. SOL price is now consolidating above $87 and might aim for more gains above the $90 zone. - SOL price started a fresh upward move above the $85 and $86 levels against the US Dollar. - The price is now trading above $87 and the 100-hourly simple moving average. - There is a bullish trend line forming with support at $86.50 on the hourly chart of the SOL/USD pair (data source from Kraken). - The pair could extend gains if it clears the $90 resistance zone. Solana Price Regains Traction Solana price corrected gains from the $90 zone but remained stable above the $85 zone, like Bitcoin and Ethereum. SOL formed a low near $85 and started a fresh upward move. The price climbed above the $85 level to enter a short-term positive zone. It surpassed the 50% Fib retracement level of the downward move from the $89.34 swing high to the $84.55 low. Besides, there is a bullish trend line forming with support at $86.50 on the hourly chart of the SOL/USD pair. Solana is now trading above $87 and the 100-hourly simple moving average. On the upside, the price is facing resistance near $88.20 and the 76.4% Fib retracement level of the downward move from the $89.34 swing high to the $84.55 low. The next major resistance is near the $90 level. The main resistance could be $92. A successful close above the $92 resistance zone could set the pace for another steady increase. The next key resistance is $100. Any more gains might send the price toward the $105 level. Another Decline In SOL? If SOL fails to rise above the $90 resistance, it could start another decline. Initial support on the downside is near the $86.50 zone and the trend line. The first major support is near the $85 level. A break below the $85 level might send the price toward the $80 support zone. If there is a close below the $78 support, the price could decline toward the $72 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $86.50 and $85.00. Major Resistance Levels – $88.20 and $90.00.

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