Overview
- Solana trades near $85 after a drop below $90 and $88, with a recent low at $83.35 and a bearish trend line capping moves around $85 on Kraken data.
- Traders point to resistance at $85–$88.50 and then $90–$92, with many saying a broader reclaim of $88–$98 is needed to turn the short-term trend higher.
- Support levels stack at $83.50, $82 and $80, with a deeper channel floor near $78 and scope for $75 if the market closes below $80.
- Hourly gauges tilt bearish, as the MACD, a momentum measure, strengthens on the downside and the RSI, a strength index, sits below 50.
- A long-term wallet reportedly sold another 30,000 SOL after unloading more than $137 million over time, adding supply pressure while price holds near support.