Solana (SOL) declined 4.45% this week as its price consolidated near $85. The cryptocurrency faces sustained bearish pressure, with key resistance between $95 and $100 limiting recovery attempts. According to data from CoinMarketCap, its market capitalization is $48.52 billion. Technical indicators, including a weekly RSI approaching 30, signal continued selling momentum.
Solana fell 4.45% over the past week, with its price action remaining capped below a $95 resistance level. As of February 22, SOL is trading at $85.35, reflecting consolidation after a recent rejection.
According to CoinMarketCap data, 24-hour trading volume dropped 38.89% to $2.01 billion. Market capitalization stands at $48.52 billion alongside this slowdown in speculative momentum.
On the daily timeframe, Solana continues to respect a descending channel pattern reflecting a series of lower highs and lows. Price recently tested the channel’s lower boundary near $75–$80 before a mild rebound toward $85.
Immediate support sits at $80, followed by $75 and $60 if selling intensifies. Analyst Globe Of Crypto stated that upside resistance stands at $95–$100, aligning with the recent rejection zone.
Solana’s weekly RSI is just above 30, a level typically associated with being oversold. The RSI remains below its moving average, indicating persistent selling pressure.
The MACD indicator is in negative territory with the signal line above the MACD line, reinforcing bearish momentum. This setup is visible on the TradingView chart.
A breakdown below $80 could trigger increased selling and volatility, leading to further declines. Conversely, a decisive breakout above $100 could allow SOL to escape its current downtrend.
