Solana (SOL-USD) is trading near $85–$86, nearly 67% below its yearly high of $253.61. Earlier in the period it changed hands near $82.46, confined to a tight intraday range between $79.58 and $82.64. Liquidity remains robust, with market capitalization around $47–$48 billion and daily trading volume in the $3.2–$3.3 billion range.
Prices sit well beneath the 50-day moving average near $115.06 and the 200-day average around $161.62, underscoring a persistent downtrend. Momentum signals show stress but no clear bottom: the RSI sits around 34.9, the MACD remains deeply negative near −11.44 with a small positive histogram, and the ADX sits around 52.2, indicating a strong trend. Bollinger Bands place the current price well above the lower band near $61.32 but far below the upper band near $128.94, highlighting limited near-term upside.
On the 12-hour chart, SOL has pierced the neckline of an inverse head-and-shoulders pattern, with a measured target around $129.78, roughly 50% above the breakout zone and about 50% higher than the $85–$86 area. The breakout also pushed price above the 20-period EMA, a short-term trend relief that previously failed when tested in early February. However, a hidden bearish divergence persists: between February 2 and February 21, price made a lower high while the RSI formed a higher high, suggesting underlying strength is not confirming the breakout.
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