Headline: Solana retreats from $88 and pares gains — consolidation between $82–$86 as traders eye key levels Solana (SOL) failed to hold onto recent gains, tumbling off the $88 area and correcting most of its advance. After briefly topping out at $88.08 on Kraken, SOL pulled back to a low of $82.96 and is now consolidating in the low-$80s while attempting a modest recovery. Technical picture - Price action: SOL is trading below the $85 mark and under the 100-hour simple moving average, though it has reclaimed a short-term connecting bearish trend line near $84 on the hourly chart. - Fibonacci levels: The token saw a minor bounce above the 23.6% Fib retracement of the $88.08 → $82.96 drop; immediate upside resistance sits at the 50% Fib (~$85.50). - Momentum: Hourly MACD is gaining in the bullish zone and the hourly RSI is holding above 50, signaling the potential for a further rebound if buyers step in. Key levels to watch - Immediate resistance: $85.50 (50% Fib), then $86.80; a decisive break and close above $88 would open the door toward $90 and potentially $92. - Support: initial support around $83.50, with a more significant floor at $83. A break below $83 could push SOL toward $80, and a close under $80 might extend losses toward $75. Short-term outlook If bulls defend $83.00–$82.50 and overcome the $85.50 resistance, Solana could mount a recovery toward the $86–$88 zone. Conversely, failure to reclaim $85.50 keeps the path open for more downside pressure, with $83 and $80 as the next meaningful supports. (Data via Kraken) Read more AI-generated news on: undefined/news