$SOL Price Action: Key Support and Resistance Zones to Watch in a Bearish Market
As
$SOL continues its bearish trend on the 4H timeframe, the price has broken below multiple Fibonacci retracement levels, suggesting that former support zones have now turned into resistance barriers. The price is currently testing the 0.236 Fibonacci level at $86.90, which will serve as a critical short-term resistance.
The Average Directional Index (ADX) indicates a moderate trend strength at 25, suggesting that while the selling momentum has eased, there is still no strong bullish conviction. The recent stabilization between the $84-$85 range signals a brief period of consolidation but does not confirm a trend reversal just yet.
What to Expect:
If SOLcan defend the $84-$85 support zone, there may be an attempt to challenge $86.90 again.
A breakthrough above $86.90 may lead to a push toward the $98.76 (0.382 Fibonacci level), and a reclaim above $108.33 would signal potential for a broader recovery.
However, failure to breach $86.90 increases downside risk, with $77.53 being a likely next target. A drop below $67.78 would confirm further continuation of the bearish trend.
The current price structure indicates that
$SOL is navigating within a larger downtrend, and traders should focus on these key levels for confirmation of the next move.
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