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Solana (SOL) price started a recovery move above $84 and $85 against the US Dollar. The token is currently trading above $85 and above the 100-hourly simple moving average, with a bullish trend line forming on the hourly SOL/USD chart and support around $85.00.
SOL remained stable before starting a recovery wave from around $82.50, similar to moves seen in Bitcoin and Ethereum. The price climbed above the $85 level and moved past the 50% Fibonacci retracement of the decline from the $87.74 swing high to the $82.74 low. A bullish trend line is also developing, supported near $85.00 on the hourly chart.
Despite the recovery, selling pressure remains near $85.80, close to the 61.8% Fibonacci retracement level of the same downward move. Even so, SOL is holding above $85 and the 100-hourly simple moving average.
On the upside, immediate resistance is near $85.80. The next major resistance is around $86.50, while the main resistance is at $88. A successful close above the $88 resistance zone could support another steady increase. Further resistance is listed at $95, and additional gains could move the price toward $102.
If SOL fails to rise above the $85.80 resistance, it could continue moving down. Initial support is near the $85 zone, followed by major support around $84. A break below $84 may push SOL toward the $82.50 support area. If there is a close below $82.50, the price could decline toward the $77 zone in the near term.
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