Solana is showing renewed weakness on the daily chart after being rejected from the $92–$94 resistance region. Price has moved below the short-term moving averages, while RSI is approaching oversold territory.
The key question now is whether buyers can defend the $89–$86 support zone or whether SOL will extend its correction.
1. EMA Structure
Current EMA levels:
- EMA 20: $98.01
- EMA 50: $101.93
- EMA 100: $99.28
- EMA 200: $97.92
SOL is trading below all four major EMAs. This indicates that sellers currently have control of the daily structure.
The $97.92–$99.28 region is the first major EMA resistance zone. A recovery above this area would be an early sign of improving momentum.
2. Fibonacci Levels
Key Fibonacci retracement levels:
- 0: $61.72
- 0.236: $106.92
- 0.382: $134.88
- 0.5: $157.48
- 0.618: $180.09
- 0.786: $212.26
- 1.0: $253.25
SOL is trading well below the 0.236 Fibonacci level at $106.92, highlighting the weakness of the broader recovery.
3. Current Market Structure
After rallying from the June–July lows, SOL advanced strongly during August and September. However, the recent rejection near $92–$94 has weakened the structure.
The chart shows lower highs and renewed selling pressure. Price is now testing an important support region around $89–$90.
A sustained move below this zone could expose lower liquidity levels.
4. RSI Momentum
- RSI: 30.29
- RSI Moving Average: 32.49
RSI is close to the oversold threshold of 30, indicating strong selling pressure.
A short-term relief bounce is possible if buyers defend support. However, oversold conditions alone do not confirm a reversal. RSI needs to recover above 40 to show improving momentum.
5. Key Support Levels
The important downside levels to monitor are:
- $89.18 – Immediate support
- $86.69 – Next support zone
- $82.23 – Major support
- $81.70 – Additional downside level
- $80.51 – Lower support region
A daily close below $89.18 could increase the probability of a move toward $86.69. Losing that level may expose the $82.23–$81.70 region.
6. Key Resistance Levels
For a recovery, SOL needs to reclaim:
- $91.23 – Immediate resistance
- $92.30 – Short-term resistance
- $92.94 – Local supply zone
- $94.66 – Important resistance
- $97.06 – Key recovery level
- $97.92–$99.28 – Major EMA resistance
- $101.93–$102.29 – Higher resistance zone
A sustained daily recovery above $94.66 would improve the short-term outlook. Reclaiming the EMA cluster around $98–$102 would provide stronger evidence of a bullish recovery.
7. Bullish Scenario
If SOL holds the $89.18 support area and buyers regain control, a relief bounce toward $91.23–$92.94 could develop.
A breakout above $94.66 may open the way toward $97.06 and the $98–$102 EMA resistance cluster.
However, buyers need to reclaim these levels with convincing momentum before a stronger trend reversal can be considered.
8. Bearish Scenario
If SOL fails to hold $89.18 and continues trading below immediate support, the next downside areas are $86.69 and $82.23.
A breakdown below $81.70 would expose the lower $80.51 region and could increase selling pressure.
Final Outlook
Solana remains under pressure on the daily timeframe. Trading below all four major EMAs, combined with RSI near 30, suggests that sellers currently maintain the advantage.
The $89.18–$86.69 region is important for buyers to defend. A recovery above $94.66 would be the first meaningful improvement, while reclaiming $98–$102 would strengthen the bullish case.
For now, SOL is at a critical support area. Watch the daily candle close and momentum before assuming a reversal.
Short-term outlook: Bearish below $94.66.
