Solana Technical Review Shows Potential Decline Toward $79–$72

Solana (SOL) faces technical rejection at $87-$91 Fibonacci resistance levels, indicating potential Elliott Wave 3 downward movement. The bearish structure remains intact as long as SOL stays below $86.90, with downside targets ranging from $79 to $72.

• →SOL was rejected at $87-$91 Fibonacci resistance, signaling potential bearish momentum.
• →Maintaining price below $86.90 keeps the bearish technical structure intact for near-term declines.
• →Downside price targets include $79, $76, and major support between $74-$72.
• →Institutions hold $540M in SOL ETFs despite weak short-term momentum and no new inflows.
• →Elliott Wave analysis suggests SOL may be entering a third wave downward movement.