Solana failed to sustain gains above $112 and pulled back, but a recovery attempt kept the $100 area intact. SOL has climbed back above $102 but faces resistance in the $108–$110 area and trades below the 100-hour simple moving average.
Key points
– SOL started a recovery from around $95 and reclaimed the $100 level.
– Price is trading below $110 and the 100-hour SMA.
– A bearish trend line on the hourly chart caps gains near $108.
– Clearing $108 and $110 would open the way for further upside.
Price action and resistance
SOL staged a decent rebound from the $95.81 low and moved above the 23.6% Fibonacci retracement of the drop from the $119 swing high. Bears remain active below $110, with an hourly trend line imposing resistance near $108. SOL is also below $105 and the 100-hour SMA, making the $108 area, the 50% Fib retracement, and $110 the immediate hurdles.
Major resistance sits at $115, with a close above that potentially paving the way toward $122 and then $125.
Downside risk
If SOL cannot overcome the $108 resistance, downward pressure could resume. Initial support is near $101, followed by stronger support around $95. A break below $95 might target $88, and a decisive close under $88 could push price toward the $80 area.
Technical indicators
– Hourly MACD: gaining in the bullish zone.
– Hourly RSI: above 50.
– Major support levels: $101 and $95.
– Major resistance levels: $108 and $115.
