SOL Holds New Support After Triangle Breakout As Buyers Defend Zone

SOL holds the triangle breakout support near $81.30 as buyers watch $90, $98, $120, and $145 resistance levels.

Solana traded near a key support area after a sharp pullback from $96, while buyers defended the breakout zone on the daily chart.

The move followed a descending triangle breakout and a retest of former resistance as support.

Traders are now watching whether SOL can hold above $81.30 and recover toward near-term resistance at $90.

SOL Retests Breakout Zone After Triangle Breakout

Solana’s daily chart shows a retest after the price moved above a descending triangle pattern. The former resistance area is now being tested as new support.

This retest is important for traders because it may confirm the breakout. In SOL’s case, buyers have appeared near the current zone.

SOL recently dropped from $96 and moved closer to the critical $81.30 support level. The decline placed short-term pressure on the market and tested buyer strength.

The chart shows SOL trading near $86.13, with a daily loss of about 3.43%. Price remains close to the $80 to $85 support zone, which is now the main area to watch.

Buyers Defend Support As $90 Resistance Stays In Focus

Buying interest has been seen near the retest area, as bulls try to protect the breakout zone. A hold above $81.30 would support the current recovery setup.

However, SOL still needs to break above $90 to show renewed strength. That level is the first near-term resistance after the latest decline.

A move above $90 may open the way toward $98. After that, traders may focus on $120 and $145 as higher resistance targets.

Failure to hold $81.30 could change the short-term setup. In that case, SOL may search for new support below the current range.

Market data also showed that high-leverage long positions were liquidated during the decline. This added pressure to SOL and increased short-term volatility.

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Fibonacci, RSI And MACD Show Mixed Signals

The wider chart still shows SOL below a major Fibonacci level at $104.05. This level marked the lower boundary of the measured range from $104.05 to $245.22.

A daily close back above $104.05 would be needed to ease wider selling pressure. Until then, sellers may remain active on larger time frames.

If SOL recovers, the next Fibonacci resistance stands near $134.26. Higher levels are also seen near $157.98 and $174.64.

The RSI is near 44.91, while its signal line is around 58.66. This shows that momentum is still weak and buyers need follow-through.

The MACD reading also remains soft, with the histogram near minus 0.25. Solana’s next move depends on support strength and a break above $90.

The post SOL Holds New Support After Triangle Breakout As Buyers Defend Zone appeared first on Live Bitcoin News.