Solana regained upside momentum this week, pushing above the $82 mark and moving into a short-term bullish zone around $85. The uptick — captured on Kraken price data — followed a breakout from a bullish flag pattern that had capped gains near $80 on the hourly chart.
Price action and key levels
- After clearing the $82 and $85 thresholds, SOL tested intraday resistance and stamped a high at $87.04 before pulling back into consolidation.
- Immediate upside resistance sits near $85, with the next barrier at $88. A successful breach of $88 could open the door to higher targets around $95, then $102 and ultimately the $112 area if momentum sustains.
- On the downside, initial support is near $83.75, with stronger floors at the $82.70 level (the 50% Fibonacci retracement of the $78.38–$87.04 swing) and $80. A decisive close below $80 could see SOL retreat toward the $75 zone.
Technical picture
- SOL is trading above the 100-hour simple moving average, which supports the short-term bullish view.
- Momentum indicators show caution: the hourly MACD is losing strength within the bullish region, while the RSI remains above 50, signaling modest buying pressure but not extended overbought conditions.
- The price briefly dipped below the 23.6% Fib retracement of the recent advance, but the 50% Fib near $82.70 remains the key downside pivot to watch.
What to watch next
- Bullish scenario: clearance and hold above $88 could trigger a renewed leg higher toward $95 and beyond.
- Bearish scenario: failure to reclaim $88 followed by a break under $82.70/$80 would suggest a deeper correction toward $75.
In summary, Solana’s short-term outlook leans positive after the flag breakout and move above the 100-hour SMA, but momentum indicators advise monitoring resistance at $88 and support around the mid-$80s for clues on the next directional move.
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