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

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.