Solana failed to stay above $90 and corrected some gains. SOL price is now 
below $88 and might aim for another increase above $90. SOL price started a 
downside correction below $88 against the US Dollar. The price is now trading 
above $85 and the 100-hourly simple moving average. There is a bullish trend 
line forming with support at $85 on the hourly chart of the SOL/USD pair (data 
source from Kraken). The pair could extend losses if it dips below the $84 
zone. Solana Price Remains Supported Solana price failed to stay above $90 and 
started a downside correction, like Bitcoin and Ethereum. SOL dipped below $88 
and $87 to enter a short-term bearish zone. There was a move below the 50% Fib 
retracement level of the upward wave from the $81.71 swing low to the $90.29 
high. The price even tested the $85 support. Besides, there is a bullish trend 
line forming with support at $85 on the hourly chart of the SOL/USD pair. 
Solana is now trading above $85 and the 100-hourly simple moving average. On 
the upside, the price is facing resistance near the $88 level. The next major 
resistance is near the $90 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 $96. Any more gains might send the 
price toward the $100 level. More Losses In SOL? If SOL fails to rise above 
the $90 resistance, it could start another decline. Initial support on the 
downside is near the $85 zone, the trend line, and the 61.8% Fib retracement 
level of the upward wave from the $81.71 swing low to the $90.29 high. The 
first major support is near the $84 level. A break below the $84 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 losing pace in the 
bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD 
is near the 50 level. Major Support Levels – $85 and $82. Major Resistance 
Levels – $88 and $90.

Solana (SOL) Positions for Breakout as Market Sentiment Turns Bullish

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