Solana’s $90 Setup Faces Risk After SOL/BTC Loses Uptrend

SOL stalls below $90 as SOL/BTC breaks its uptrend. Can Solana bulls hold key support, or is a deeper drop coming?

Solana is struggling to hold ground as bears tighten their grip on short-term price action. 

Solana trades at $82.41 on the daily chart, sliding 2.97% in a session that offered bulls little comfort. Price continues to oscillate inside a defined range, unable to break free from the compression that has dragged on since February. 

The $88 to $90 zone remains an unchallenged ceiling, while the broader market structure keeps the outlook cautious. Until something changes, Solana stays stuck in no man’s land.

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SOL Price Consolidates Below Key Bollinger Resistance

The daily chart tells a story of indecision. After a brutal selloff from the $120-$125 range, SOL found a base around the low $80s and has stayed rangebound since. 

The upper Bollinger Band sits near $89.81, while the lower band rests around $77.02. Price keeps bouncing between these two levels without committing to either side.

The 20-day SMA at $83.42 is acting as the immediate pivot point. Besides, the latest candle closed just below that level. That subtle slip signals short-term weakness. 

Sellers are not overwhelming buyers, but bulls also lack the strength to reclaim the mid-band convincingly. The structure remains neutral to slightly bearish for now.

Repeated rejections near $88-$90 confirm that zone as a formidable resistance ceiling. A sustained daily close above $83.42 would be the first hint that bulls are rebuilding momentum. 

Without that, the path of least resistance keeps pointing sideways or lower.

RSI Signals Weak Momentum as Solana Lacks Direction

Momentum indicators are not offering bulls any reassurance. 

The RSI(14) reads 46.04, with its moving average at 44.24. Both readings sit below the neutral 50 level, handing sellers a slight edge in the current environment.

This setup differs from February, when RSI plunged near oversold territory during the sharp crash. Today’s momentum profile reflects compression rather than panic. 

RSI has been swinging between the low 40s and mid-50s, matching the horizontal drift in price. There is no strong push from either camp.

For a bullish reversal to gain traction, RSI needs to reclaim and hold above 50. That would signal a shift in momentum structure. 

Until that happens, the Solana price chart continues to show a market searching for its next catalyst.

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SOL/BTC Breakdown Adds Pressure to Solana Recovery Hopes

Adding to the complexity, the SOL/BTC pair is flashing a warning sign. 

Analyst Ted Pillows flagged that SOL/BTC has lost its short-term uptrend on the weekly chart. A red arrow on his chart projects further deterioration in the ratio, targeting levels around 0.001 or below. 

Recent data places SOL/BTC near 0.00116, consistent with periods of Bitcoin outperforming altcoins.

A falling SOL/BTC ratio means Bitcoin is gaining ground on Solana in relative terms. This matters because altcoin rallies typically need BTC dominance to ease before taking off. 

With SOL/BTC breaking down, that tailwind is absent for now.

Analyst More Crypto Online also noted that the advance from the April 9 low appears to be only a three-wave structure so far. A confirmed five-wave move into the $88-$90 target zone would strengthen the bullish case. 

For now, confirmation remains elusive, and a further pullback into support over the near term cannot be ruled out.