Solana has broken below the $90 support level and is now challenging the January lows. Short-term trend remains bearish as price continues making lower lows and lower highs. Price also got another rejection at the trend line resistance.
Black lines- Fibonacci retracements
Blue line- resistance
Solana price has so far made very slow progress to the upside. The bounce towards the 23.8% Fibonacci retracement was short lived. Price is still below the blue trend line and vulnerable to more downside. Resistance by the blue trend line is at $95.40. Breaking above this level will be a sign of strength.
