Solana price breaks 5-week downtrend, is $83 next?

Solana price rallied nearly 7% from its Aug. 7 low, breaking a five-week descending channel as proposed supply changes and institutional adoption renewed demand for SOL. Summary Solana price rose from $72.49 to $77.36, breaking above a five-week descending channel. 4-hour Supertrend support flipped bullish at $75.02, strengthening the breakout structure. Liquidation clusters at $78 and $80 could accelerate gains if buyers maintain control. Daily momentum remains mixed, leaving $74–$75 as the main breakout invalidation zone. Solana price breaks its five-week downtrend According to data from crypto.news, Solana (SOL) price traded around $76.93 on Aug. 10, up nearly 7% from its Aug. 7 low of $72.49. The recovery pushed SOL through the upper boundary of a descending channel that had controlled its price since early July. The 4-hour chart shows that SOL first reclaimed $74.30 before breaking the channel near $75. The price then climbed to an intraday high of $77.36, where buyers encountered initial resistance. Solana price 4-hour chart — Aug. 10 | Source: crypto.news Trading volume expanded during the breakout, while the bull-bear power indicator rose to 1.23. A positive reading indicat...