Solana (SOL) in range below $90, fight for control intensifies

Solana started a fresh rally from the $83.50 zone. SOL price is currently consolidating and may seek further gains above the $85.50 zone.

The SOL price has started a fresh upward move above the levels of $83 and $84 against the US dollar.
The price is currently above $84 and the 100-hour elementary moving average.
A bullish trend line is forming on the hourly chart of the SOL/USD pair with support at USD 83.80 (data source from Kraken).
The pair can continue its gains if it breaks the resistance zone at $85.50.

Solana Price Eyes Key Breakout

Solana price corrected gains from the $85.50 zone but remained stable above the $83 zone, similar to Bitcoin and Ethereum. SOL formed a low near $83.20 and started a fresh upward move.

The price rose above the $84 level, entering the short-term positive zone. It breached the 50% Fib retracement level as part of a downward move from a high of $85.85 to a low of $83.27. Additionally, a bullish trend line is forming on the hourly chart of the SOL/USD pair with support at USD 84.00.

Solana is currently trading above $84 and the 100-hour elementary moving average. On the other hand, the price is facing resistance near $85.20 and the 76.4% Fib retracement level in a move down from a high of $85.85 to a low of $83.27. The next major resistance is near the $85.50 level.

The main resistance may be at the $88 level. A successful close above the $88 resistance zone could set the pace for further sustained growth. The next key resistance is $90. Any further gains could push the price towards the $95 level.

Another SOL decline?

If SOL fails to break above the resistance at $85.50, another decline could begin. Initial downside support is located near the $83.80 zone and trendline. The first major support is located near the $82.50 level.

A break below the $82.50 level could push the price towards the $80 support zone. If a close occurs below the $78 support, the price could drop towards the $72 support in the near future.

Technical indicators

Hourly MACD – MACD for SOL/USD is gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major support levels – $83.80 and $82.50.

Major resistance levels – $85.50 and $88.00.