Key Insights:
- SOL rebounds from $72–$75 support, gaining nearly 10% in 24 hours.
- Analysts monitor $89.61 resistance as next breakout level for confirmation.
- 4-hour chart shows bullish trend flip, but $90 remains key barrier.
Solana (SOL) traded at $85.37 at the time of writing, up 9.96% over the past 24 hours. Trading volume reached $4.21 billion during the same period. Over the last seven days, the token remains down 1.6%.
The recent rise follows a pullback that pushed SOL into the $72–$75 range. Buyers entered near that zone, leading to a sharp rebound. The move carried price back above the $80 level and improved short-term momentum.
Support Zone Holds as Analysts Maintain Outlook
More Crypto Online stated,
Source: More Crypto Online/XOn the 30-minute chart, SOL bounced from a Fibonacci retracement area between $72 and $75. Price moved back above $78 and broke a short-term descending trendline. As long as SOL stays above the recent higher low near $75–$78, the current structure remains in place.
$89.61 Identified as Next Resistance
The $89.61 level is now the main resistance to watch. It marks the 61.8% retracement of the previous corrective move and aligns with earlier consolidation on the chart.
A sustained move above $89.61 could open the way toward $98. Beyond that, the $103–$110 range stands as the next technical area. If price fails to clear $89.61, consolidation below $90 may continue.
4-Hour Chart Shows Bullish Shift
WebTrend reported,
On the 4-hour timeframe, SOL moved above a declining moving average after rebounding from the $78–$80 region. The Relative Strength Index has crossed above the midline, showing stronger buying pressure. Even so, SOL remains below the $88–$90 resistance zone. A break above that area would confirm a higher high on the 4-hour chart and support further upside movement.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/sol-bounces-strong-eyes-now-on-89-61/
