Solana (SOL) Eyes $88 Break, Will Bulls Finally Push Higher?

The pair could extend gains if it clears the 88 resistance zone. Solana Price Rallies Over 5 Solana price started a decent increase after it settled above the 82 zone, like Bitcoin and Ethereum. SOL climbed above the 85 level to enter a short-term positive zone. Earlier, there was a break above a bullish flag pattern with resistance at 80.00 on the hourly chart of the SOL/USD pair. The price even smashed the 86.50 resistance. A high was formed at 87.04, and the price is now consolidating gains. There was a minor decline below the 23.6 Fib retracement level of the recent upward move from the 78.38 swing low to the 87.04 high. Solana is now trading above 82 and the 100-hourly simple moving average. On the upside, the price is facing resistance near 85. The next major resistance is near the 88 level. The main resistance could be 95. A successful close above the 95 resistance zone could set the pace for another steady increase. The next key resistance is 102. Any more gains might send the price toward the 112 level. Downside Correction In SOL? If SOL fails to rise above the 88 resistance, it could start another decline. Initial support on the downside is near the 83.75 zone. The first major support is near the 82.70 level and the 50 Fib retracement level of the recent upward move from the 78.38 swing low to the 87.04 high. A break below the 82.70 level might send the price toward the 80 support zone. If there is a close below the 80 support, the price could decline toward the 75 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – 82.70 and 80.00 Major Resistance Levels – 85.00 and 88.00.