BEARISH 📉 : Solana faces resistance, risks decline below $80

Solana's price is experiencing resistance between $90 and $92, risking a potential decline below $80.

SOL surged past $75 and $80 against the USD but remains within a range above $85 and the 100-hourly SMA.
A bearish trend line with resistance at $88 on the SOL/USD hourly chart could hinder further gains.
Clearing resistances at $88 and $92 might drive the price higher.

Resistance Challenges for Solana

After stabilizing from $68, Solana mirrored moves by Bitcoin and Ethereum, climbing above $75. It surpassed the 50% Fib retracement from $106 to $68, yet faces active selling pressure below $90.

The next resistance stands around $92, aligning with the 61.8% Fib level of the previous drop. Surpassing $95 could trigger further growth toward $102 and possibly $112.

Potential Decline in SOL?

If SOL cannot surpass $92, a downward move is likely. Initial support lies near $84, with significant support at $80. A breach below $80 may target the $72 zone, with further declines potentially reaching $68.

Hourly MACD indicates bullish momentum.
RSI for SOL/USD is above 50, suggesting positive momentum.
Key supports: $84 and $80.
Key resistances: $88 and $92.