Solana's price has stabilized above $85 after finding support at $82.50, initiating a recovery wave similar to broader cryptocurrency trends. The asset is now trading above its 100-hourly simple moving average, with a bullish trend line forming support at the $85 level. Immediate resistance sits near $85.80, a level where selling pressure has been observed.
This price action follows a recent downward move from a swing high of $87.74 to a low of $82.74. The current consolidation phase suggests traders are assessing momentum before the next directional move. Technical indicators point to a potential steady increase if key hurdles are overcome.