Solana failed to settle above $85 and trimmed most gains. SOL price is now 
consolidating losses above $80 and might continue to move down. SOL price 
started a fresh decline below $84 and $82 against the US Dollar. The price is 
now trading below $82 and the 100-hourly simple moving average. There was a 
break below a declining channel with support at $82 on the hourly chart of the 
SOL/USD pair (data source from Kraken). The price could start a recovery wave 
if the bulls defend $80 or $78.50. Solana Price Dips From $85 Solana price 
failed to remain stable above $84 and started a fresh decline, like Bitcoin 
and Ethereum. SOL declined below the $82 and $81.50 levels. Besides, there was 
a break below a declining channel with support at $82 on the hourly chart of 
the SOL/USD pair. The bears even pushed the price toward $80. A low was formed 
at $79.92, and the price is now consolidating losses below the 23.6% Fib 
retracement level of the downward move from the $84.65 swing high to the 
$79.92 low. Solana is now trading below $82 and the 100-hourly simple moving 
average. On the upside, immediate resistance is near the $81.10 level. The 
next major resistance is near the $82.20 level or the 50% Fib retracement 
level of the downward move from the $84.65 swing high to the $79.92 low. The 
main resistance could be $82.80. A successful close above the $82.80 
resistance zone could set the pace for another steady increase. The next key 
resistance is $84.50. Any more gains might send the price toward the $85 
level. More Losses In SOL? If SOL fails to rise above the $82.80 resistance, 
it could continue to move down. Initial support on the downside is near the 
$80 zone. The first major support is near the $78.50 level. A break below the 
$78.50 level might send the price toward the $72 support zone. If there is a 
close below the $72 support, the price could decline toward the $70 support in 
the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is 
gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – 
The RSI for SOL/USD is below the 50 level. Major Support Levels – $79.92 and 
$78.50. Major Resistance Levels – $82.20 and $82.80.

Solana failed to settle above $85 and trimmed most gains. SOL price is now consolidating losses above $80 and might continue to move down. SOL price started a fresh decline below $84 and $82 against the US Dollar. The price is now trading below $82 and the 100-hourly simple moving average. There was a break &#8230;

Solana (SOL) Plunges Lower, Market Sentiment Turns Sharply Bearish

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Solana (SOL) Plunges Lower, Market Sentiment Turns Sharply Bearish

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