Solana (SOL) Knocks on $88, Bulls Aim for $100 Rally

The pair could extend gains if it clears the 88 resistance zone. Solana Price Starts Fresh Recovery Wave 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 bearish trend line with resistance at 83.60 on the hourly chart of the SOL/USD pair. The price even smashed the 86 resistance. A high was formed at 86.85, and the price is now consolidating gains above the 23.6 Fib retracement level of the recent upward move from the 81.32 swing low to the 86.85 high. Solana is now trading above 85 and the 100-hourly simple moving average. On the upside, the price is facing resistance near 86.80. The next major resistance is near the 88 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 102 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 85.50 zone. The first major support is near the 84.00 level and the 50 Fib retracement level of the recent upward move from the 81.32 swing low to the 86.85 high. A break below the 84.00 level might send the price toward the 82 support zone. If there is a close below the 82 support, the price could decline toward the 76.50 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 – 85.50 and 84.00 Major Resistance Levels – 88.00 and 90.00.