BEARISH 📉 : Solana struggles below $85, risks further decline below $82

Solana's price attempted a recovery but faced resistance and is now struggling to maintain levels above $85. Key observations include:

SOL price saw a recovery wave above $78 and $82.
Currently trading below $85 and the 100-hourly simple moving average.
A bearish trend line with resistance at $85 on the SOL/USD hourly chart.
Immediate resistance levels are at $85 and $92, with potential resistance at $96 and $105 if surpassed.

Resistance Levels

Solana showed stability and climbed over $80, but resistance was encountered near $90. If SOL can successfully close above the $96 zone, it might continue rising towards $112.

Potential Downtrend

If SOL cannot breach the $85 resistance, it may decline further:

Initial support lies around $82, with major support at $80.
A drop below $80 could bring prices down to $75, and potentially towards $70.

Technical Indicators:

Hourly MACD indicates a bearish momentum.
RSI for SOL/USD is below 50, suggesting weakness.
Major support levels: $82 and $75.
Major resistance levels: $85 and $92.

Solana Price