Solana is trading around $83.89, slightly down on the day, but what’s happening beneath the surface is far more interesting than the price suggests.

Over the last 24 hours:
1.High: $88.66
2.Low: $83.51
3.24H Volume: 2.19B USDT

Price is drifting lower — but smart money behavior is changing.

📉 Structure Is Still Bearish — Let’s Be Honest

  1. SOL continues to trade inside a descending channel on the daily timeframe.

  2. It has repeatedly failed to reclaim the 50 EMA (~$119), which keeps the broader structure bearish.

  3. Right now price sits near $83.89, just below the MA60 on lower timeframe (~$83.98). That tells us:

This is compression — not breakout.

RSI on daily previously dipped near 28 (oversold).

On lower timeframe now it's stabilizing around 40–45 range, meaning:

Momentum is no longer aggressively bearish…

But it’s not bullish either.

This is a transition zone.

2️⃣ Buyers Are Absorbing — But Price Isn’t Reacting Yet

  1. Over the past 72 hours, more than 1.07M SOL has been withdrawn from centralized exchanges. That’s significant.

  2. At the same time, the Spot Taker CVD shows buyer dominance over a 90-day window.

This tells us:

Aggressive buyers are stepping in.

But price keeps grinding lower.

That usually means one thing —

Large supply is being absorbed.

Absorption doesn’t immediately reverse trend.

It slows it first.

3️⃣ The $85–$86 Zone Is Loaded With Shorts

  1. The liquidation heatmap shows dense leverage clusters above current price around: $85–$86

  2. Right now SOL is trading below that cluster (~$83.89).

If price pushes into that zone:

Short liquidations could trigger mechanical buying.

That could create a fast spike toward $88–$90.

But until that happens, leverage pressure stays dormant.

This is compressed volatility.

🎯 Key Levels To Watch

  1. Immediate Resistance: $85–$86

  2. Major EMA Resistance: $119 (50 EMA daily)

  3. Critical Support: $78.5

If $78.5 breaks, structure weakens further.

If $86 reclaims cleanly, short squeeze potential increases.

Question For You 👇

Would you accumulate near $80 support…
Or wait for a confirmed reclaim above $86?

#SOL #Solana #CryptoMarkets #BinanceSquare #TradingView