Solana Price Drops Below $80, Bears Intensify in Crypto Market

The Solana price has dropped below $80, with a significant decline of over 5% in recent trading sessions. The bears have intensified in the crypto market, with multiple cryptocurrencies experiencing losses.

According to technical indicators, the MACD for SOL/USD is gaining pace in the bearish zone, and the RSI (Relative Strength Index) is below the 50 level. Major support levels are at $77 and $75, while major resistance levels are at $80 and $82.

If Solana fails to rise above the $82 resistance, it could continue to move down, with initial support on the downside being near the $77 zone. A break below the $75 level might send the price toward the $70 support zone, potentially leading to a decline toward the $62 support in the near term.