Solana (SOL) Cracks Lower, Traders Brace for Volatile Selloff

Solana failed to settle above $85 and extended losses. SOL price is now consolidating losses below $80 and might struggle to start a recovery wave. SOL price started a fresh decline below $88 and $85 against the US Dollar. The price is now trading below $86 and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $81.50 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start a recovery wave if the bulls defend $78 or $75. Solana Price Dips Below $85 Solana price failed to remain stable above $85 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $82 and $80 levels. There was a break below a bullish trend line with support at $81.50 on the hourly chart of the SOL/USD pair. The bears even pushed the price toward $78. A low was formed at $78.30, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $86.63 swing high to the $78.3