Solana slides back under $84, risks deeper pullback Solana (SOL) has given back recent gains, failing to hold above $86 and slipping below $84 as short-term momentum turns bearish. On Kraken hourly data, SOL is trading under the 100-hour simple moving average and faces a declining trend line that puts resistance around $84, leaving the token vulnerable to further losses toward — and possibly below — the $80 area. What happened - After topping near $91.20, SOL began a downside correction alongside broader market weakness in Bitcoin and Ethereum, breaking below $90, $88 and $86. - The decline pushed SOL through the 61.8% Fibonacci retracement of the recent upswing from $76.55 to $91.20, and price even tested the $80 support zone. - A bearish trend line on the hourly chart creates immediate resistance in the $83–$84 area, with the 100-hour SMA also overhead. Key levels to watch - Immediate resistance: $83; next resistance cluster around $84 and a more significant barrier near $85.60. A clean hourly close above $85.60 would likely reopen the path to $88 and potentially $92. - Support: initial support sits near $80 and the 76.4% Fib retracement of the same swing. The first major floor is at $79; a break below $79 could push SOL toward $76.50, and a close under that level would leave $72 in play. Technical indicators - Hourly MACD: bullish momentum is fading. - Hourly RSI: below 50, indicating short-term bearish bias. Outlook The near-term bias is negative unless SOL can reclaim and close above the $85.60 zone. Failure to do so would keep $80–$79 as the next battlegrounds, with deeper losses possible if sellers prevail. Traders should monitor the hourly trend line and the 100-hour SMA for signs of a reversal or continuation. Data source: Kraken. Read more AI-generated news on: undefined/news

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