Solana Price Faces $80 Test After $90 Rejection

Key Insights:

• Bearish engulfing candles at $90 confirm strong seller control and invalidate Solana’s latest breakout attempt above key resistance levels.

• Loss of the point of control shifts momentum lower, exposing the value area low and critical $78 support zone.

• Fibonacci confluence at $78 aligns with liquidity clusters, increasing its importance as Solana approaches sub-$80 technical territory.

Solana price turned lower after a failed push above the $90 resistance level, signaling renewed downside pressure in the short term. Sellers stepped in aggressively, forming bearish engulfing candles that erased recent gains and forced price back into its prior range. Consequently, the rejection has shifted focus toward lower support zones as bearish momentum builds.

The appearance of consecutive bearish engulfing candles near $90 confirms that buyers lost control at a critical technical level. This pattern reflects strong selling interest, especially after price briefly traded above resistance before closing back below it. Moreover, the swift rejection invalidated the attempted breakout and reinforced the broader corrective structure.

Loss of Value Weakens Market Structure

Solana also slipped below the point of control, a level that often defines fair value within the current range. Multiple closes beneath this area show that the market no longer accepts higher prices, increasing the probability of further downside rotation. Besides, when price loses this level after a breakout failure, traders often anticipate a move toward lower value zones.

Source: TradingView

With momentum shifting lower, the value area low now acts as the next technical magnet. This boundary marks the lower edge of balance and frequently attracts price during corrective phases. Additionally, continued trading below key value levels suggests that sellers remain active in the near term.

$78 Support Aligns With Fibonacci Level

Below the value area low, high-timeframe support around $78 stands out as a major technical zone. This area aligns with the 0.618 Fibonacci retracement, which often draws price during pullbacks. Significantly, the $78 level also sits just under the $80 psychological threshold, which may increase volatility as price approaches it.

The previous swing low near $78 indicates the presence of resting liquidity in that region. Markets often move toward such levels to trigger stop orders before establishing the next directional move. However, the reaction in this zone will determine whether Solana stabilizes or extends its correction.

Solana continues to print lower highs, maintaining a corrective structure despite temporary rebounds. Attempts to reclaim resistance have failed, and buyers have not regained acceptance above key value levels. Consequently, rallies remain limited while downside risks stay elevated below the $90 resistance.