Solana’s Dramatic Downturn: Will It Bounce Back?

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Darling Solana has, after a jaunty flirtation with the magical $90, slipped into a pose less vaudeville and more va-voom-downright below $85, and perhaps ready to preen at the $76 footlights.

  • SOL price started a downside correction below $85 against the US Dollar.
  • The price is now trading below $82 and the 100-hourly simple moving average.
  • There is a bearish trend line forming with resistance at $81 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could extend losses if it dips below the $76 zone.

Solana Price Starts Downside Correction

Solana could not conjure a lift above $90, and, like a party guest who overindulges on champagne, it drifted below $85 and $82 into a short-term bearish mood.

There was a move below the 50% Fib retracement level of the upward wave from the $67.40 swing low to the $89.72 high. Besides, there is a bearish trend line forming with resistance at $81 on the hourly chart of the SOL/USD pair.

Solana is now trading below $80 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $81 level and the trend line. The next major resistance is near the $82.20 level. The main resistance could be $85. A successful close above the $85 resistance zone could set the pace for another steady increase. The next key resistance is $90. Any more gains might send the price toward the $102 level.

More Losses In SOL?

If SOL fails to rise above the $82 resistance, it could start another decline. Initial support on the downside is near the $76 zone and the 61.8% Fib retracement level of the upward wave from the $67.40 swing low to the $89.72 high. The first major support is near the $72.50 level.

A break below the $72.50 level might send the price toward the $68 support zone. If there is a close below the $68 support, the price could decline toward the $60 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone.

Hourly RSI – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $76 and $72.50.

Major Resistance Levels – $81 and $85.

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2026-02-13 08:30