Solana failed to settle above $90 and extended losses. SOL price is now consolidating losses below $85 and might struggle to start a recovery wave.
SOL price started a fresh decline below $85 and $82 against the US Dollar.
The price is now trading below $85 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $85.50 on the hourly chart of the SOL/USD pair (data source from Kraken).
The price could start a recovery wave if the bulls defend $82 or $80.
Solana Price Revisits $80
Solana price failed to remain stable above $90 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $88 and $85 support levels.
The price gained bearish momentum below $83.50. A low was formed at $80.29, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $94.10 swing high to the $80.29 low.
Solana is now trading below $85 and the 100-hourly simple moving average. On
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