Solana (SOL) climbed back above $80 after touching a low of $75.64, breaking through a key bearish trend line at $81 on the hourly chart as the token attempts to reclaim ground lost during its retreat from the $86.68 swing high.
What Happened: SOL Reclaims $80
The recovery pushed SOL past the 50% Fibonacci retracement level of the drop from $86.68 to $75.64. The token also moved above its 100-hourly simple moving average, a technical indicator traders watch for signs of short-term momentum shifts.
Sellers remain active near $82.50, which aligns with the 61.8% Fibonacci retracement of the same downward move. Immediate resistance sits at $82, with $84 and $85 as the next levels to watch.
A close above $85 could open the path toward $92 and potentially $95.
On the downside, losing $79 support would expose the $77 zone, and a break below that could push the token toward $74.
Why It Matters: Momentum Shift
The hourly MACD is gaining pace in the bullish zone, and the RSI sits above 50 — both suggesting short-term momentum favors buyers.
Whether SOL can clear the $82-$85 resistance band will likely determine if this recovery has legs or fades into another leg down, with Bitcoin (BTC) and Ethereum (ETH) setting the broader market tone.