$SOL WATCH/UPDATE
SOL trading at $84.48, 24H volume of $4.07B, down 5.80% in the last 24 hours.
still in the macro downtrend with the 50D SMA at $107 and 200D SMA at $158, heavy overhead resistance. Battle lines are set between $76.70 support and $85.55 resistance, the zone that will ultimately determine the bull/bear outcome in the near term. Overall sentiment is still bearish with most of indicators bearish, RSI at 52.76, neutral, not yet oversold on the daily.
Solana’s daily network revenue was down to a 30 day low of $314,700, down 79% from its February high, even new and returning user counts are down, signifying real demand erosion, not just price noise. The difference is key: the weekly oversold RSI reading from earlier in the week has partially normalized, so the bulls can no longer argue that it is an “easy bounce” from that. The bulls need to recoup $86.50 first, only then does momentum start to shift towards the $100 psychological level. The funding rate is -0.0026% with open interest down by 4.45%, shorts paying longs, leverage is decreasing, and all moves are organic.
Immediate resistance is at $95–$100 (50 EMA) followed by $116–$117 (100 EMA). Failure to hold $85 pushes price back toward the mid-$70s.
Alpenglow consensus upgrade (testnet live,
mainnet H2 2026) and $1B+ SOL ETF AUM are real structural tailwinds — but neither overrides weak on-chain fundamentals in the short term.
Disclaimer : This is not a financial advice DYOR
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