Solana (SOL) Price Prediction: Can $86 Trigger a Breakout?
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SOL is facing resistance near $86.90, which is crucial for a potential recovery. After a decline from $148.88, recent stabilization around $84-$85 suggests temporary support but not a confirmed reversal. Broader bearish trends persist as price remains below key Fibonacci levels.
- SOL faces immediate resistance near $86.90, key for short-term bullish recovery.
- Recent base at $84–$85 signals temporary stabilization, not confirmed reversal yet.
- Cooling open interest and spot flows indicate reduced leverage and weaker conviction.
Solana trades near $85 after a sharp decline from the $148.88 swing high. The asset remains under pressure on the 4-hour chart despite a recent rebound. Sellers controlled price action for weeks and forced a sequence of lower highs and lower lows.
However, buyers stepped in near $67.78 and triggered a short-term recovery. Consequently, traders now watch whether this bounce can evolve into a sustainable reversal.
Broader Trend Still Points Lower
SOL continues to reflect a broader bearish structure on the 4H timeframe. Price broke below several Fibonacci retracement levels during the decline. Hence, previous sup…
Read The Full Article Solana (SOL) Price Prediction: Can $86 Trigger a Breakout? On Coin Edition.
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Solana (SOL) Price Prediction: Can $86 Trigger a Breakout?
Share:
SOL is facing resistance near $86.90, which is crucial for a potential recovery. After a decline from $148.88, recent stabilization around $84-$85 suggests temporary support but not a confirmed reversal. Broader bearish trends persist as price remains below key Fibonacci levels.
- SOL faces immediate resistance near $86.90, key for short-term bullish recovery.
- Recent base at $84–$85 signals temporary stabilization, not confirmed reversal yet.
- Cooling open interest and spot flows indicate reduced leverage and weaker conviction.
Solana trades near $85 after a sharp decline from the $148.88 swing high. The asset remains under pressure on the 4-hour chart despite a recent rebound. Sellers controlled price action for weeks and forced a sequence of lower highs and lower lows.
However, buyers stepped in near $67.78 and triggered a short-term recovery. Consequently, traders now watch whether this bounce can evolve into a sustainable reversal.
Broader Trend Still Points Lower
SOL continues to reflect a broader bearish structure on the 4H timeframe. Price broke below several Fibonacci retracement levels during the decline. Hence, previous sup…
Read The Full Article Solana (SOL) Price Prediction: Can $86 Trigger a Breakout? On Coin Edition.
Read More
Wall Street is out of cash to “buy the dip” but $7.7T could rotate into Bitcoin if prices stay beaten down