Solana’s $80 Descent: Will It Recover or Just Sink Further?

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Solana, ever the dramatic performer, couldn’t even manage to stay above $90, and now it’s sulking below $85. The market, it seems, has lost patience with its antics.

  • SOL’s price has taken a fresh dive below $85 and $82, as if the US Dollar is a grumpy landlord demanding rent.
  • The price is now trading below $85 and the 100-hourly simple moving average. A true tale of woe, or perhaps a calculated move to test the resolve of investors.
  • A key bearish trend line is forming, with resistance at $85.50, as if the market itself is trying to keep Solana from escaping its financial prison.
  • If the bulls can somehow defend $82 or $80, maybe Solana will attempt a recovery. But let’s be honest, it’s about as likely as a snowball’s chance in a hurricane.

Solana Price Revisits $80

Solana price failed to remain stable above $90 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $88 and $85 support levels, proving once again that no one is immune to the whims of the market.

The price gained bearish momentum below $83.50. A low was formed at $80.29, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $94.10 swing high to the $80.29 low. It’s like watching a toddler throw a tantrum-unpredictable and exhausting.

Solana is now trading below $85 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $85 level. There is also a key bearish trend line forming with resistance at $85.50 on the hourly chart of the SOL/USD pair. The market’s sense of humor is as sharp as a paper cut.

The next major resistance is near the $87.20 level or the 50% Fib retracement level of the downward move from the $94.10 swing high to the $80.29 low. The main resistance could be $88.80. A successful close above the $88.80 resistance zone could set the pace for another steady increase. The next key resistance is $95. Any more gains might send the price toward the $102 level. A dream, perhaps, but one can always hope.

More Losses In SOL?

If SOL fails to rise above the $85 resistance, it could continue to move down. Initial support on the downside is near the $82 zone. The first major support is near the $80 level. It’s like a game of musical chairs, but with no chairs and everyone’s a loser.

A break below the $80 level might send the price toward the $72 support zone. If there is a close below the $72 support, the price could decline toward the $65 support in the near term. The market’s appetite for despair is insatiable.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone. It’s like a runner who’s given up on the race halfway through.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. A slight glimmer of hope, but don’t get too excited-it’s about as reliable as a weather forecast in a hurricane.

Major Support Levels – $82 and $80.

Major Resistance Levels – $85 and $88.

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2026-03-09 08:33