SOL Technical Outlook: Rising Wedge Under Bearish Pressure

Solana is currently showing a short-term recovery inside a broader downtrend, with price compressing into a rising wedge pattern — typically a bearish continuation setup.

Price is trading around $89.5, testing a key supply zone while momentum remains fragile.

EMA Structure (Bearish Control)

20 EMA: $88.7
50 EMA: $93.9
100 EMA: $108.6
200 EMA: $129.6

Price is hovering around the 20 EMA, but still below the 50 EMA, indicating weak bullish momentum.

The EMAs remain bearishly aligned, confirming the higher timeframe trend is still downward.

Market Structure & Key Zones

Price formed a base near $67–$70, followed by a slow recovery

Currently moving inside a rising wedge (bearish pattern)

Rejection signs appearing near $89–$90 resistance zone

Fibonacci Levels

0.786 Fib: $213.6
0.618 Fib: $182.2
0.5 Fib: $160.3
0.382 Fib: $138.3
0.236 Fib: $111.1
Fib 0: $67.1

SOL is trading well below the 0.236 level ($111), keeping it in a low-value zone.

RSI Momentum

RSI: 50

Neutral momentum

Slight upward slope, but no strong bullish confirmation

Supports the idea of consolidation rather than breakout

📊 Key Levels

Resistance

$89–$90 (current supply + wedge top)
$93.9 (50 EMA)
$111 (0.236 Fib)

Support

$87 (minor support)
$83–$85 (range support)
$67 (major base)

📌 Summary

SOL is in a temporary recovery phase, but the structure remains bearish overall.

Rising wedge suggests possible breakdown ahead

Rejection at $90 zone increases probability of downside

Failure to break above $94 (50 EMA) keeps sellers in control

Scenarios:

🔴 Bearish Case:
Break below $87–$85 → move toward $80 → $70 zone

🟢 Bullish Case:
Strong breakout above $94 → potential push toward $100–$111

$SOL ‌#FedHoldsRatesSteady