SOL Outlook: Relief Bounce Before Another Drop?

SOL is clearly in a downtrend, making lower highs and lower lows. The price is following a descending trendline, with sellers holding the upper hand. The recent bounce appears to be a temporary pause rather than a reversal.

On the upside, resistance is around 84.90 to 88.00, with a stronger supply zone near 90.20. These levels probably hold liquidity, so any upward move might just be a brief test before prices get pushed down again.

On the downside, support near 80 is currently being tested. The main liquidity target is closer to 77.20, where previous lows and demand are located. It’s likely the price will head there before any significant bounce occurs.

Indicators show some weak bullish momentum, but the overall trend remains bearish, so this momentum is unlikely to change the direction by itself.

Looking at the bigger picture, rising oil prices and ongoing tensions related to Iran are putting pressure on riskier assets. This environment keeps altcoins like SOL under pressure since they tend to react more strongly to global uncertainty.

The most probable outcome is a small bounce toward resistance, followed by a drop toward 77. A real shift to bullishness would need the price to break above 88 to 90 and overcome the trendline.

The safest strategy is to sell on rallies near resistance rather than trying to catch the price in the middle of its moves.

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$SOL ‌