Solana recovery is showing fresh strength after a sharp pullback earlier this week. SOL price failed to stay above $85 and dropped to nearly $76. Buyers quickly stepped in at lower levels. The token started climbing again above $78 and $80.
SOL price now trades above $80 and the 100 hourly simple moving average. This move gives confidence to traders watching the crypto market. A key breakout happened above a bearish trend line at $81 on the hourly chart of the SOL/USD pair. This breakout signals that selling pressure is easing.
The recent fall started from a high of $86.68 and reached a low of $75.64. SOL price has already crossed the 50% Fibonacci retracement level of that drop. This shows that buyers are slowly gaining control. However, resistance levels near $82.50 remain strong. This area also matches the 61.8% Fibonacci retracement level.
Technical indicators support the positive trend. The hourly MACD shows rising bullish momentum. The RSI stays above the 50 level. These technical indicators suggest steady buying interest. Major support levels stand at $80 and $77. Major resistance levels remain at $82 and $85.
If SOL price clears $82, the next target could be $84. A strong move above $85 may open the door toward $92 and even $95. The $90 to $100 range is important for the next big rally. Many short positions exist in that zone. A breakout there could trigger fast gains in the crypto market.
On the downside, risk still exists. If SOL price fails to move above $82, selling pressure may return. Support lies near $80. A break below $79 could push price toward $77. If $77 fails, the next support sits around $74.
Broader market factors also support Solana recovery. ETF inflows and steady network growth help build confidence. Despite overall crypto market swings, Solana remains stable between $75 and $90.
Solana recovery now depends on how SOL price reacts near $82 and $85 resistance levels. Holding above $80 keeps the bullish setup alive. The next few trading sessions may decide the next major move.
Also Read: Ethereum vs Solana: Which Blockchain Will Lead the Future?