Solana (SOL) has come under intense selling pressure in recent hourly charts, bringing renewed focus to the $81.65 price level. Despite this downward signal in the short term, analysts say Solana’s technical picture remains unclear overall. Both upward and downward corrections have marked recent price moves, but the pronounced decline in Solana is bringing attention to ongoing selling momentum.
Short-term selling pressure remains dominant
With Solana trading near $84.30, technical analysis points to a potential move toward $81.65. The price level, highlighted by MCO Global, stands out as significant support. The analysis suggests Solana’s inability to regain its recent trend line has accelerated the pace of selling as the price sinks below it.
The $85.86 area, meanwhile, acts as a crucial resistance in the short term. As long as Solana remains below this level, selling pressure could persist amid waning buyer interest. Should SOL surpass this resistance, the ongoing decline may lose strength and short-term stabilization could materialize.
Looking at the recent moves, both upward and downward swings have been corrective, making wave counts increasingly complex. Therefore, defining a clear five-wave decreasing trend currently isn’t possible. However, the $78.80–$81.75 support zone will be critical in the upcoming days, given its alignment with key Fibonacci extension levels and past price reactions.
In its technical briefing, MCO Global emphasized: “Short-term price pressure persists below $85.86. As long as sellers defend this region, the downside target remains valid.”
If Solana fails to hold this support zone, the risk of a move below $78.80 persists. Price action around these levels should be closely watched by investors.
RSI drops to historic low, long-term view uncertain
Solana’s daily Relative Strength Index (RSI) has fallen to its lowest level on record. The weekly RSI currently matches values last seen in December 2022. According to More Crypto Online, while this confirms a technically oversold state, it does not yet signal the beginning of a sustained rebound.
Following its recent steep drop, Solana is approaching a major long-term support area. Analysts note that these historical RSI lows might provide scope for a short-term price reaction, but do not yet indicate the formation of a durable market bottom.
For a true longer-term recovery, Solana’s price would need to move above key resistance levels. Should the uptrend start to build gradually, the main resistance zone is expected in the $110–$139 range—a band supported by both Fibonacci ratios and prior price action.
On the downside, supports between $43–$62, and more broadly $31–$49, may come into play if a deeper correction unfolds. If Solana’s decline accelerates, these bands could once again be tested.
As analysts point out: “RSI has dropped to a historic low. While short-term relief rallies are possible, a definitive long-term base is not yet apparent.”
In summary, Solana is attempting to recover from technical oversold territory in the short term, but has yet to offer a clear confirmation of a lasting trend reversal.
