Solana is trading near a key resistance area, while two technical charts show that sellers may still control the next major move. Both setups point to short term bounce attempts, but SOL must reclaim higher levels to weaken the downside risk. SOL Price Faces Wave 2 Bounce Before Possible Drop SOL trades near $86.29 on the 1 hour chart, while the analyst marks the move as a possible wave 2 bounce inside wave. That means the current rise may still be corrective, not a confirmed bullish reversal. SOLUSD 1H Elliott Wave Setup. Source: More Crypto Online The key resistance zone sits between $86.37 and $88.30. This area includes the 38.2%, 50%, 61.8%, and 78.6% Fibonacci levels. If SOL fails there, sellers may regain control and push price lower. However, a clean move above $88.30 would weaken the bearish setup. In that case, SOL could test the higher resistance near $89 to $90, where the previous local top formed. The downside levels remain important. The chart marks $81.69, $80.00, and $78.99 as possible targets if wave (c) continues. The broader support zone also sits near $78.81 to $81.75. So, the main idea is simple. SOL can still bounce in the short term, but the chart keeps a bearish structure unless price breaks above the wave 2 resistance area. SOL Chart Points to $40 Support Plan SOL trades near $85.84 on the daily chart, while the setup shows price struggling below a major resistance zone around $90 to $96. SOLUSDT Daily Support and Breakdown Setup. Source: Degen Hardy The chart marks a tight consolidation after Solana’s sharp drop from higher levels. Price has moved sideways since February, but it has not reclaimed the purple resistance band with strength. The drawn path shows a possible fake bounce near the current range before another drop. The main downside target sits near $40 to $47, where the next large support zone appears. A lower support area also appears near $27.15, though the post focuses on the $40 level as the main buy zone. Overall, the chart keeps a bearish short term view. SOL needs a strong daily reclaim above the $90 to $96 zone to weaken this downside plan.
