Solana started a fresh increase above the $90 zone. SOL price is now
consolidating and might aim for more gains above the $96 zone. SOL price
started a fresh upward move above the $90 and $92 levels against the US
Dollar. The price is now trading above $92 and the 100-hourly simple moving
average. There is a bullish trend line forming with support at $92.20 on the
hourly chart of the SOL/USD pair (data source from Kraken). The pair could
extend gains if it clears the $96.50 resistance zone. Solana Price Starts
Fresh Surge Solana price started a decent increase after it settled above the
$88 zone, outperforming Bitcoin and Ethereum. SOL climbed above the $92 level
to enter a short-term positive zone. The price even smashed the $95
resistance. A high was formed at $96.85, and the price is now consolidating
gains. There was a minor decline toward the 23.6% Fib retracement level of the
recent upward move from the $87.61 swing low to the $96.85 high. Solana is now
trading above $92 and the 100-hourly simple moving average. Besides, there is
a bullish trend line forming with support at $92.20 on the hourly chart of the
SOL/USD pair. On the upside, the price is facing resistance near $96.20. The
next major resistance is near the $96.50 level. The main resistance could be
$98. A successful close above the $98 resistance zone could set the pace for
another steady increase. The next key resistance is $102. Any more gains might
send the price toward the $105 level. Downside Correction In SOL? If SOL fails
to rise above the $96.50 resistance, it could start another decline. Initial
support on the downside is near the $94.00 zone. The first major support is
near the $92.20 level, the trend line, and the 50% Fib retracement level of
the recent upward move from the $87.61 swing low to the $96.85 high. A break
below the $92.20 level might send the price toward the $90 support zone. If
there is a close below the $90 support, the price could decline toward the $88
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 – $94.00 and $92.20 Major Resistance Levels – $96.50 and $98.00.

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