Solana, that most capricious of cryptocurrencies, has once again demonstrated its flair for the dramatic by tumbling below $90 with all the subtlety of a drunken tango. Yet, for those with the patience of Job (or a particularly strong espresso), the price remains stubbornly above $85, as if daring bulls to mount another quixotic attempt at glory.
- The SOL price, ever the diva, launched a grandiose downside correction below $90, leaving investors clutching their pearls and recalculating their life choices.
- Currently, it clings to the $85 mark like a lemur to a branch, trading above the 100-hourly SMA with the desperate hope of a gambler on a losing streak.
- A rising channel, that most insipid of chart formations, now loiters with intent at $88, offering resistance as banal as a Monday morning meeting.
- Should the price dip below $85, one might expect a cascade of panic buying from individuals who clearly do not understand volatility.
Solana’s recent misadventures above $92 were nothing short of tragicomedy. Like a Victorian heroine cornered by a suitor, it faltered beneath the weight of its own ambition, sliding below $90 and $88 with the grace of a sack of wet potatoes. Bitcoin and Ethereum, ever the sycophants, followed suit, proving that in crypto, imitation is the sincerest form of flattery.
The price, having flirted with the 50% Fib retracement level (a romantic gesture if ever there was one), found solace above the $82 support, rallying back to $85. A rising channel now whispers sweet nothings at $88, while the 100-hourly SMA offers a tepid embrace. Resistance, it seems, is futile-or at least, it will be if bulls have another penny to spare.
Presently, Solana trades above $85, a figure so modest it might as well be a hat tip to the market’s collective humility. Resistance looms at $88, with $90 and $92 playing the role of increasingly exasperated gatekeepers. Should the price breach $92, it may yet ascend to $95, and perhaps even $102, though such aspirations are as likely as a bear market ending on a whim.
But let us not forget the specter of decline. Should bulls falter, $85 and $82 await like two elderly relatives offering unsolicited advice. A collapse below $76.50 might see the price tumbling toward $72, where it could presumably contemplate its life choices in the shadows.
Technical Indicators
Hourly MACD – The venerable MACD, that most reliable of barometers, is gaining pace in the bullish zone, as if to say, “Yes, this might work… probably.”
Hourly RSI – The RSI, ever the dandy, strolls nonchalantly above the 50-level, exuding confidence it may not deserve.
Major Support Levels – $85 and $82, two numbers that, if history teaches us anything, will be tested by the universe’s sense of irony.
Major Resistance Levels – $88 and $92, the final frontier for a market that thrives on suspense.
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2026-02-17 08:10