Solana (SOL) launched a recovery from the $85 support level and is now consolidating above $90, with technical indicators pointing to a potential move toward $95 and beyond if bulls can clear key resistance near $92.80.
SOL Technical Recovery
The token began its upward move after finding a floor at $85.10, according to hourly chart data from Kraken. SOL climbed past the 50% Fibonacci retracement level of the drop from the $97.67 swing high to the $85.10 low and broke above a bearish trend line that had capped gains at $88.
The price now sits above both $90 and the 100-hourly simple moving average. Immediate resistance stands at $92.20, with the more significant barrier at $92.80 — the 61.8% Fibonacci retracement of that same downward move.
A close above $95 would open the path toward $102 and potentially $112.
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SOL Downside Risks
Failure to break $92.80 could send SOL back toward $88.40, with $85 serving as the first major support below that level.
A drop beneath $82 would expose the token to a slide toward $75. The hourly MACD remains in bullish territory and the RSI holds above 50, though bears have been active near the $92 mark, keeping the outcome uncertain for now.
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