Solana’s SOL failed to settle above $102 and extended losses, with the price now consolidating below $95 and facing a challenge to start a recovery. SOL price started a fresh decline below $100 and $95 against the US Dollar, with a low near $89.
There is a key bearish trend line forming with resistance at $98 on the hourly SOL/USD chart. The price could start a recovery wave if the bulls defend $90 or $85.
On the upside, immediate resistance is near the $93 level, with the next major resistance around $97 or the 50% Fibonacci retracement level of the downward move from the $106 swing high to the $89 low. The main resistance could be $102, and a close above this zone could set the pace for a move toward $106. Any more gains might push SOL toward the $112 level, while a failure to clear $98 could invite renewed downside toward the $90 and $85 supports.
A break below the $85 level could push toward the $82 support zone, and a close below $82 could extend losses toward the $74 in the near term. The MACD remains bearish and the RSI stays below 50.
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