$SOL #
Solana (SOL) Technical Analysis
The current market sentiment is cautiously bearish in the short term, with SOL trading around the $81–$84 range.
Key Technical Observations:
Head and Shoulders Pattern: A large "Head and Shoulders" pattern has materialized on the higher timeframes. The neckline, previously at $117, has been breached, suggesting a potential downward target toward the **$70** support zone.
Resistance & Support: * Resistance: The $100 psychological level is now the primary barrier. A daily close above this is required to invalidate the current bearish trend.
Support: Immediate support sits at $80, with a deeper "crash floor" identified near $72.
Indicators: SOL is currently trading below its major moving averages (50-day and 200-day), and the Ichimoku Cloud remains positioned above the price, signaling sustained selling #solana #USNFPBlowout