After trading above $91 in early March, Solana (SOL) has seen repeated rejection around that range.
The price is currently hovering around $84, indicating a short-term decline from recent highs.
Solana had surged past $96 following Trump’s announcement that the United States was pausing its intended attacks on Iran’s energy and power infrastructure, but afterwards slid back below $90.
Technical analysis
SOL’s recent price action shows that $91, once a support level, has once again turned into a strong resistance.
Every attempt to move above it since February has been met with selling pressure.
The short-term moving averages have also tilted downward, reflecting the prevailing bearish sentiment.
Volume has also dropped noticeably.
Reduced trading activity often signals weaker conviction among buyers, giving sellers the upper hand.
On-chain activity has mirrored this trend, with decentralised exchange activity and network transactions showing signs of slowing.
Momentum indicators are not helping either.
The relative strength index (RSI) has been hovering below neutral, while the Moving Average Convergence Divergence (MACD) indicator suggests that bearish pressure remains dominant.
From the above, the overall pattern indicates a market that has traded in a tight consolidation since February and is currently leaning toward further downside rather than immediate recovery.
In the derivatives market, short-term traders have also been active, with funding rates negative and a larger proportion of positions held on the short side.
This adds to the pressure, as leveraged positions can magnify price swings during declines.
The key Solana price levels to watch
SOL’s price outlook for the coming days is dominated by a tug-of-war between cautious buyers and aggressive sellers.
The market remains reactive, and the next move will largely depend on whether support near around $80 and $82 can hold.
A drop below this range could open the door for deeper losses, with analysts hinting at the possibility of the altcoin revisiting levels in the mid-$70s.
Notably, breaking these levels could trigger stop-loss orders and further accelerate the downward move.
Despite the bearish outlook, some longer-term scenarios remain cautiously optimistic.
If SOL stabilises near $80 and buyers regain confidence, it could consolidate before attempting another breakout at the immediate resistance located around $90 to $96.
Fundamental catalysts, such as network upgrades or renewed investor interest, may help reverse the trend over time.
However, the immediate environment favours caution.
The current setup suggests that selling pressure is likely to continue until buyers can overcome key resistance levels and stabilise the price.
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