SOL is likely to avoid a notable downtrend | Credit: Hameem Sarwar
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Key Takeaways
Solana (SOL) is trading near $85 after an 11% weekly decline, with sellers still controlling the short-term trend.
Technical indicators remain bearish, but oversold RSI conditions suggest a short-term bounce could emerge.
A move above $90 may revive bullish momentum, while a breakdown could push SOL toward $79 or lower.
Solana (SOL) is hovering around $85 after a wave of profit-taking slowed its recent momentum.
The altcoin recorded an 11% drop on the weekly timeframe. Despite that, the broader market structure still favors bulls in the short term.
While volatility remains elevated, technical signals indicate that a severe correction is becoming increasingly unlikely.
But what could be next for Solana’s price/
SOL Recovery Attempt Weakens
On the 4-hour chart, SOL has now formed a descending channel, reflecting sustained selling activity and weaker buyer confidence.
Currently, SOL trades around $84 while printing lower highs and lower lows. This structure usually signals continuation to the downside unless bulls reclaim control above channel resistance.
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Meanwhile, momentum indicators remain weak. The Moving Average Convergence Divergence (MACD) stays below the signal line with expanding red histogram bars, confirming ongoing bearish momentum.
In addition, the Relative Strength Index (RSI) has dropped to near 28, placing SOL close to oversold territory. Although this could trigger a short-term bounce, sellers still dominate the broader trend.
From a technical standpoint, the $82 zone remains critical support.
Unless spot inflows strengthen and absorb this leverage imbalance, SOL’s price remains exposed to further volatility and potential extensions toward lower support zones below $82.
SOL Price Outlook: Downtrend Remains Active
Solana’s price remained under pressure after failing to sustain momentum above $90, sliding back toward $84 on the daily timeframe.
The altcoin continues to trade below the descending trendline that has capped upside attempts since late 2025, reinforcing the broader bearish structure.
Notably, SOL also remains below the 0.382 Fibonacci level at $139, while the gap between the current price and the 0.5 retracement near $161 highlights how far bulls are from reclaiming macro control.
However, sellers have not fully dominated recent sessions. Price continues to hold above the critical $67 support zone, which previously triggered a strong rebound in February.
Meanwhile, the Awesome Oscillator (AO) has started losing bullish momentum after printing weaker green bars.
At the same time, the Money Flow Index (MFI) remained near 57, suggesting capital inflows still exist despite fading strength.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
