Solana (SOL) Shows Signs of Recovery Amid Resistance Levels
- Solana found support at $77 and corrected some losses, consolidating above $80.
- The price broke above a key bearish trend line with resistance at $80 on the hourly chart.
- Solana is trading above the $80 level and the 100-hourly simple moving average.
- Immediate resistance is near $82.80, with major resistance levels at $85 and potentially $88.
- If SOL fails to rise above $82.80, it could move down with initial support near the $80 zone.
Solana’s price recovery from its recent low of $77 has seen it stabilize above the crucial level of $80, breaking past a key bearish trend line on its hourly chart. The immediate challenge for SOL lies in surpassing the resistance at $82.80 to aim for higher targets such as $85 and possibly up to $88.
The current position of Solana above its 100-hourly simple moving average indicates a potential for further gains if it can clear existing resistances.Source
