Solana (SOL) trades around $84 after a 2.6% daily gain, yet faces persistent weekly selling pressure. The cryptocurrency remains confined to a range between $75 and $90, with analysts noting strong resistance near the $89-$90 zone. Market experts caution that a failure to close above $90 could reaffirm short-term bearish sentiment.
Solana traded near $84.32 following a modest daily recovery, as CoinMarketCap data showed. The asset’s weekly trend, however, remained slightly negative.
The 24-hour trading volume increased by over 26% to nearly $4.67 billion. This higher volume accompanies sideways price action, indicating active trading at key levels.
CryptoPulse noted that the $89-$90 region has been a strong rejection zone. “If the price cannot close above $90, then the bearish configuration may remain dominant in the short term,” the post stated.
Analysis shows the price has been fluctuating between support around $75-$77 and resistance at $89-$90. Recent lower highs within this range suggest weakening upward pressure.
More Crypto Online observed continued selling pressure within the multi-week sideways pattern. Bulls have defended the range’s lower region, but stability is not yet evident.
Short-term technical signals hint at a possible correction wave. The price was strongly rejected after attempting to move toward $90-$92.
Trader Rob outlined a scenario with buying interest and risk controls set below the $76 region. His stated targets for a bullish reversal were $89, $100, and $125.
This pattern aligns with deeper Fibonacci retracement levels around $78 and $75. The $75.44 region is identified as a deeper correction area that may encounter more selling liquidity.
