Solana (SOL) recovered from a $77 support floor and broke above a key bearish trend line, with the token now consolidating above $80 as traders watch whether bulls can push through resistance at $82.80 and $85.
SOL Technical Recovery
The token bounced from a swing low of $76.70 and climbed past the 50% Fibonacci retracement level of its recent drop from $86.63. Data from Kraken shows SOL broke above a bearish trend line that had capped prices at $80 on the hourly chart.
SOL now trades above both $80 and the 100-hourly simple moving average. Bears remain active near $82.80, which aligns with the 61.8% Fibonacci retracement of that same downward move.
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SOL Resistance and Downside Risks
If buyers clear $82.80, the next targets sit at $85 and then $88. A close above $88 could open the path toward $95 and eventually $102.
Failure to break $82.80 would leave SOL vulnerable to a retest of $80 and the $77 support. A drop below $75 could accelerate selling toward $66.
The hourly MACD is gaining momentum in bullish territory, and the RSI holds above 50, suggesting buyers retain a slight edge for now.
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