Solana (SOL) Hits Key Support, Will Bulls Hold the Line?

Solana failed to settle above $92 and extended losses. SOL price is now consolidating losses below $88 and might struggle to start a recovery wave. SOL price started a fresh decline below $90 and $88 against the US Dollar. The price is now trading below $88 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $88 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start a recovery wave if the bulls defend $85 or $80. Solana Price Revisits $85 Solana price failed to remain stable above $93 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $90 and $88 levels. The bears even pushed the price toward $85. A low was formed at $85.42, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $93.40 swing high to the $85.42 low. Solana is now trading below $88 and the 100-hourly simple moving average. On the upside, immediate resistan