Solana Tops $80 Amid Breakout Risk Debate
Solana staged a sharp rebound on Friday, climbing 10.3% to move back above the $85 mark after three days of pressure.
The token had traded within a tight $78 to $88 range over the past week before tumbling to $67 during last Thursday’s wider market pullback.
Recent volatility dragged SOL beneath the $80 level, erasing the middle of its local range and unsettling short-term traders.
Friday’s recovery pushed the asset back above lost ground, fuelling speculation that a broader recovery attempt may be underway.
Market analyst Daan Crypto Trades said Solana has regained the pivotal $80 zone, an area that has repeatedly acted as both support and resistance in previous cycles.
He stressed that the token must consolidate above that level and build a base before “watching for a low-timeframe market structure break back to bullish,” Daan Crypto Trades said.
Analyst Ali Martinez pointed out that continued buying interest could drive SOL towards $88, a price last seen earlier this week.
The $88 level has capped upside attempts since last week’s breakdown and now stands as a significant short-term resistance barrier.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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