Solana (SOL) slid below $88 after failing to hold above $93, with hourly chart indicators turning bearish and traders now watching the $85 support level as the next line of defense against further downside.
SOL Price Decline
The token dropped through both the $90 and $88 levels in a move that tracked broader weakness across Bitcoin (BTC) and Ethereum (ETH). Sellers pushed SOL as low as $85.42.
The price now trades below the 100-hourly simple moving average.
A bearish trend line has formed with resistance at $88 on the hourly SOL/USD chart.
The 23.6% Fibonacci retracement of the decline from the $93.40 swing high to the $85.42 low sits above the current price, reinforcing the bearish structure. For bulls to regain control, SOL would need to close above $92, which could open the path toward $95 and eventually $102.
Also Read: Can Bittensor Keep Rallying Without Retail FOMO?
SOL Support Levels
On the downside, $85 serves as immediate support. A break below $82 could expose the $80 zone.
If sellers push through $80, the next target sits near $74.
The hourly MACD is gaining momentum in bearish territory, while the RSI remains below 50.
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