$SOL
🚨Solana Price Reclaims $85, but Key Resistance Still Overhead🚨
Solana’s price rebound toward the $85 mark marks a clear short-term recovery from recent panic lows, but the broader chart structure suggests the move is still corrective rather than trend-changing. On the daily timeframe, SOL remains confined within a descending channel that has guided price action since the January breakdown, indicating that sellers continue to control the dominant trend. The recent bounce originated from a well-defined demand zone in the $70–$75 region, where historical buying interest previously absorbed heavy sell pressure. That zone acted as a liquidity flush, triggering short covering and a technical rebound. However, the rally has so far stalled near the mid-range of the descending channel, an area that has repeatedly capped upside attempts over the past several weeks.
The $88–$92 resistance band now stands out as the first major supply zone. This region aligns with prior breakdown levels, short-term moving averages, and the upper boundary of the declining structure. A clean daily close above this zone would be required to shift market structure and open the door toward $100. Until then, upside moves risk being sold into. On the downside, immediate support now rests near $80, followed by the broader demand block around $72. As long as SOL holds above $80, the rebound structure remains intact. A failure back below that level would signal that the current move is losing momentum and could drag price back toward the lower demand area. Overall, Solana’s price action reflects stabilization after a sharp sell-off, but confirmation of a trend reversal remains absent.
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