Solana (SOL) climbed more than 5% to reach $87.04 after breaking above a bullish flag pattern on the hourly chart, though the token now faces a key test at the $88 resistance level that could determine its next directional move.
SOL Price Breakout
The rally began after SOL settled above $82, mirroring upward moves in Bitcoin (BTC) and Ethereum (ETH). According to hourly chart data, the SOL/USD pair broke through a bullish flag pattern with resistance at $80.
The price pushed past $85 and briefly cleared $86.50 before topping out at $87.04. SOL now trades above its 100-hourly simple moving average.
On the upside, $85 serves as near-term resistance. A sustained break above $88 could open the path toward $95, with $102 and $112 as further targets.
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Downside Risk Levels
Should SOL fail to clear $88, the token could retreat toward initial support at $83.75. The more critical floor sits at $82.70, which aligns with the 50% Fibonacci retracement of the move from the $78.38 swing low to the $87.04 high.
A drop below $82.70 would expose the $80 zone. Losing that level could accelerate selling toward $75 in the near term.
Technical Indicators Signal Caution
The hourly MACD is losing momentum in bullish territory, suggesting the rally may be cooling. Meanwhile, the RSI remains above 50, indicating buyers still hold a slight edge.
Key support sits at $82.70 and $80. Resistance stands at $85 and $88, the levels likely to dictate whether SOL extends its gains or reverses course.
