Overview
- Solana traded near $89 to $90 on Wednesday after bouncing off support around $85, signaling a pause in the recent pullback.
- NewsBTC cites an hourly break of a bearish trend line at $88 and points to $92.80 and $95 as levels that would confirm renewed upside.
- If buyers fail to clear resistance, analysts highlight support at $88.40 and $85, with further downside risk toward $82 or even $75.
- Blockonomi and CoinCentral report a 30% jump in monthly trading volume to nearly $5 billion, while Artemis data shows weekly on-chain transactions fell about 20% to 774 million.
- Blockonomi notes more than $370 million in short positions were liquidated during the latest rebound, raising the chance of another squeeze if buying pressure builds.