After pulling back from highs around $80, Solana’s price (SOL) found strong support above $67 and has now resumed its uptrend over the last few days, surging nearly 8 percent. SOL had dipped below the $77.50 and $75 levels temporarily as part of a broader correction in the crypto markets, in line with Bitcoin and Ethereum.
However, bullish sentiment quickly returned around the $67.25 level. This marked a bounce off the 50 percent Fibonacci retracement level from the last swing high of $79.45 down to the recent swing low of $67.25. SOL now trades solidly above the 100 simple moving average line on the 4-hour chart, adding to the positive momentum.
Looking ahead, SOL faces initial resistance around $76.50, before the first major test at the psychological $80 threshold. A successful breakout above $80 could open the door for an extension up to formidable resistance zones around $88 and $92. To get there, SOL would likely need to clear the stiff overhead resistance at $82 with strong conviction.
On pullbacks, the first layer of support is at $72, aligning with previous congestion. Below that, stronger support is seen around $70, which lines up with a short-term uptrend line that has developed over recent sessions. A violation of $70 could see the SOL test toward $67.50 again, with the key floor at $65 below that.
Overall, technical indicators reflect improving conditions and upward traction after SOL bounced firmly from the midpoint retracement level. Bulls are demonstrating commitment around $70, while resistance ahead sits at $76.50, $80, and $82. A decisive break higher could ignite the next bullish run up to $88 or possibly $92.
