Solana: Is SOL on the Brink of a Brutal Downtrend?

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In the manner of a sharp social observation, Solana, known to most by the abbreviation SOL, hath not yet managed to settle above the modest salon of ninety dollars, and remains in a genteel but unvarying range. The prospect of a renewed decline near ninety to ninety-two dollars threatens to disappoint as thoroughly as a debutante’s second drawing-room-perhaps more.

  • SOL price hath begun a respectable recovery above seventy-five and eighty dollars, as if to regain a favor at a quiet assembly of traders.
  • The price now trades above eighty-five dollars and the venerable 100-hourly simple moving average, which is to say, it doth not yet fall into disrepute with the clockwork of markets.
  • A notable bearish trend line doth form, with resistance at eighty-eight on the hourly chart of the SOL/USD pair, like a stern aunt guarding the door of the drawing-room.
  • The path upward may continue if it clearâeth eighty-eight and ninety-two, provided the coins are not merely rehearsing a walk in the park for the benefit of a gallery of bears.

Solana Price Faces Resistance

Solana, being as steady as a well-bred heroine, hath remained stable and commenced a recovery from sixty-eight dollars, much as Bitcoin and Ethereum attended the same moral improvement. SOL hath managed to rise above the seventy-five-dollar threshold, which is not without merit.

There occurred a move beyond the fifty percent Fibonacci retracement of the decline from the $106 swing high to the $68 low; yet the bears, alas, linger below ninety. A conspicuous bearish trend line persists with resistance at eighty-eight on the hourly chart of the SOL/USD pair.

Solana now trades above eighty dollars and the venerable 100-hourly moving average. On the ascent, the immediate resistance sits near eighty-eight and that very trend line.

Solana chart

The next major resistance lies near the $92 level and the 61.8% Fibonacci retracement of the downward move from the $106 swing high to the $68 low. The principal resistance could be $95. A successful close above the $95 zone might set the pace for another steady ascent. The next key resistance is $102, and any further gains could direct the price toward the $112 region.

Another Decline In SOL?

If SOL fails to rise above the $92 resistance, it could continue to move downward. The initial support on the downside lies near the $84 zone. The first major support is near the $80 level.

A break below the $80 level might send the price toward the $72 support zone. Should there be a close below the $72 support, the price could descend toward the $68 zone in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly RSI – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $84 and $80.

Major Resistance Levels – $88 and $92.

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2026-02-09 08:10