SOL prices struggle to cushion the ongoing downfall as the selling pressure grows and teases a potential fall below the $80 mark.

Key technical points:
<ul>
 	<li style="font-weight: 400">SOL market price falls under $100.</li>
 	<li style="font-weight: 400">The daily candle shows a growth of 1.96%.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Solana is $1.034 Billion, reflecting a fall of 11%. </li>
</ul>
<h2>Past Performance of SOL</h2>
SOL prices fall drastically after the recent rejection from the resistance trendline resulting in a fall below all the crucial daily EMAs and the psychological barrier at $100. The downfall continues to a sideways trend after the bearish candle formed on 30th April breached the $90 mark.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/p/PRhJpUME.png" alt="SOL/USD TradingView Chart" width="1824" height="894" />

Source-<a href="https://www.tradingview.com/x/PRhJpUME/">Tradingview</a>
<h2>SOL Technical Analysis </h2>
SOL price action shows a consolidation phase ready to continue the bearish trend and hammer the $80 support level. Hence, traders can find selling opportunities as the market price crosses below the $80 mark.

The crucial daily EMAs move with high selling pressure areas as they maintain a bearish alignment. Moreover, the EMAs have a history of providing dynamic resistance to keep bullish growth in check.

The MACD and signal lines continue to fall within the negative territory with a constant bearish spread as the downtrend continues. Thus, the indicator suggests the possibility of an $80 fallout.

The RSI value continues to fall within the nearly oversold territory as the bullish attempts to surpass the halfway line fails. Moreover, the 14-day SMA continues to put bearish influence and keeps the bullish growth in check.

In a nutshell, SOL technical analysis shows a high likelihood of a downfall below the $80 mark.
<h2>Upcoming Trend </h2>
SOL coin price experiences high selling pressure as the bullish attempts to recover the market price keeps getting canceled at the resistance trendline. Hence, the fallout of $80 will mark a selling opportunity for traders to rise a 30% deflationary trend till the next support level at $50.

Support Levels: $80 and $50

Resistance Levels: $100 and $125

SOL Technical Analysis: Sellers Ready To Ambush $80

SOL prices struggle to cushion the ongoing downfall as the selling pressure grows and teases a potential fall below the $80 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SOL Technical Analysis: Sellers Ready To Ambush $80

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