What you need to know:
- Solana (SOL) is down 4.45% on continued near-term bearish pressure.
- Price consolidates near $85 after recent rejection.
- The weekly RSI is approaching the oversold level around 30.
- Resistance between $95 and $100 limits recovery attempts.
Solana (SOL) fell 4.45% over the past week as price action remained below the $95 resistance level, reinforcing short-term bearish pressure. As of February 22, SOL is trading at $85.35, reflecting consolidation after failing to reclaim higher resistance zones.
According to CoinMarketCap According to data at the time of writing, 24-hour trading volume fell 38.89% to $2.01 billion, while the market capitalization stands at $48.52 billion. The slowdown in volume signals reduced speculative momentum even as the price stabilizes near key support.
The descending channel structure maintains a bearish bias
On the daily time frame, Solana OL continues to respect a descending channel pattern that has persisted since peaking around $260-$270 in late 2025. The formation reflects a series of lower highs and lower lows, confirming a persistent downward structure.
Price recently tested the channel’s lower bound near $75-$80 before initiating a mild rebound towards $85. Immediate support now stands at $80, followed by $75 and $60 as selling pressure increases.
According to the crypto analyst Sphere of CryptoOn the upside, resistance is at $95-$100, which corresponds to the recent rejection zone, followed by $120 near the mid-channel level and $140 on the descending trendline.
A strong break above the $100 level could open the way to $120, while an opportunity to reach $140 could be in sight. However, if $80 breaks through, it is likely that the underlying trend will resume its bearish movement.
Weekly RSI and MACD signal momentum depletion
Solana’s RSI on the weekly chart is just above 30, which is normally associated with oversold levels. The RSI is below the moving average, indicating that there is still selling pressure.
Historically, a rebound occurs when the RSI returns above 40, which is now a level traders look for as the first sign of a reversal, as shown on the Trading view graphic.
The MACD indicator is in the negative area, with the signal line resting on top of the MACD line, while the red histogram bars expand. This setup reinforces the fact that the bearish momentum is intact.
A bullish crossover, coupled with contracting histogram bars, would be necessary to signal stabilization of the trend on higher time frames.
Why this matters
A sharp drop below $80 could trigger a sudden sell-off, leading to increased short-term volatility and pulling the SOL further down around $75 or $60.
On the other hand, a strong break above $100 could help SOL escape the downtrend, potentially reviving buying interest and changing overall market sentiment.
Also read: Has Solana lost his soul? $SOL is under pressure, but recovery is imminent
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