Solana Price Reaches Critical Support Level Amid Bearish Market Pressure

Solana's price has been experiencing a sustained weekly decline, with a 6.94% drop over the past seven days. This decline is reflective of growing bearish pressure across the broader crypto market.

According to BitGuru, Solana is currently testing a crucial support range between $86 and $87 following a sharp downward move. A successful hold could push SOL back toward the $90 resistance level, while a breakdown may trigger further downside before any recovery.

The price of Solana still forms an ascending channel on the four-hour chart, supported by a rising trendline. However, the market is at a decisive inflection point as the trendline holds during recent pullbacks, indicating that buyers are still active despite the recent decline.