Solana (SOL) Positions for Breakout as Market Sentiment Turns Bullish

Solana's price recently corrected its gains, falling below $90 and currently trading under $88. It has initiated a downside correction but remains supported above $85 and the 100-hourly simple moving average. A bullish trend line offers support at $85 on the hourly chart of SOL/USD. The price dipped below the 50% Fib retracement level from the $81.71 swing low to $90.29 high. Resistance is observed near $88, followed by major resistance at $90 and then $92. A sustained break above $92 could signal further increases toward $96 and potentially $100. Conversely, failure to surpass $90 could lead to further declines, with initial support at $85, corresponding to the bullish trend line and the 61.8% Fib retracement. A break below $84 could push the price towards $82, and a close below $82 might lead it to $76.50. The Hourly MACD is losing bullish momentum, and the RSI is near the 50 level, indicating a potential consolidation or further correction.