#CryptoMarketClimbs

SOL Outlook: Range Now, Downtrend Still Active

Solana is currently trading between $84 and $90, showing sideways movement. The market feels neutral but leans slightly bearish.

Open interest sits around $5 billion and has dipped somewhat, indicating traders are reducing their positions rather than increasing them. Funding rates are mostly neutral or a bit negative, giving shorts a slight advantage, though not decisively. Liquidations remain low, so there’s no pressure causing sudden price moves. Futures volume is decent but participation is declining, which often leads to choppy price behavior.

On-chain data remains stable. Total value locked (TVL) is close to $6.9 billion, suggesting the network is fairly healthy. However, fund flows are mixed, with some selling and rotation instead of clear buying momentum.

In simple terms, no strong trend is visible right now. The market looks balanced and is likely to stay within this range until fresh volume arrives.

Looking at the daily chart, SOL is still in a downtrend. The price moves inside a downward channel, creating lower highs and lower lows. Both the 50-day EMA near $93 and the 200-day EMA around $127 slope downward and act as resistance.

The recent bounce between $85 and $88 is holding, but it seems weak and corrective. The MACD shows a slight bullish crossover, indicating a potential short-term bounce but not a reversal of the overall trend.

Key support lies at $85. If that breaks, the $70 to $75 area becomes crucial; losing this level could push the price toward $60.

Resistance appears at $93 to $95, then at $100 to $110. A solid move above $110 would be needed to shift the trend upward. Beyond that, the major resistance zone sits between $125 and $130.

As long as the price stays below $100 to $110, the overall bias remains bearish. Rallies are likely to face selling pressure.

For a bullish shift, expect rising open interest and strong spot buying. On the other hand, a break below $85 combined with weak funding and falling open interest would confirm bearish momentum.

Overall, Solana is range-bound in the short term but remains bearish when viewed on a longer timeframe.

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