Solana Price Breaks Five-Week Downtrend, Sets Sights on $83

Solana's price has broken out of a five-week descending channel, and its price rose from $72.49 to $77.36 on August 10th. The 4-hour Supertrend support flipped bullish at $75.02, strengthening the breakout structure.

The rally coincided with growing validator support for two proposals designed to reduce Solana's future supply growth. SIMD-0550 would increase the annual disinflation rate from 15% to 30%, and SIMD-0553 would introduce resource-based transaction fees that could raise daily SOL burns.

Liquidation clusters at $78 and $80 could accelerate gains if buyers maintain control, but the daily momentum remains mixed. A sustained close above the Ichimoku cloud around $76.93 would strengthen the case for a move toward $80-$84.