Primary trend remains bearish
Solana continues to trade within its primary weekly downtrend, with the broader structure still favouring the bears. The previous period of sideways consolidation was followed by a sharp 38% decline, highlighting the risk of assuming support will hold.

100/50-Day EMAs remain a barrier
The 100/50-day EMAs remain bearishly crossed, with price continuing to find resistance beneath both moving averages. Until bulls reclaim these averages, the broader technical outlook remains negative.

Support beginning to weaken
Price has slipped below the initial $74.00 support area, a level that has repeatedly attracted buyers since mid-June. Failure to reclaim this zone would increase the probability of another move towards the $64.04 swing low, with the significant $60.13 low below.

Resistance remains overhead
The first resistance sits around the former $74.00 support zone, followed by the more significant confluence around $83.70-$83.98. This area also aligns with the 0.618 Fibonacci retracement, strengthening its importance.

Momentum remains mixed
RSI continues to chop just below the 50 level, while StochRSI has crossed higher from oversold territory. Although volume has declined during the latest sell-off, momentum is not yet signalling a decisive bullish reversal.

In Summary
Solana remains trapped within a broader bearish trend, with the bearishly crossed 100/50-day EMAs continuing to cap any recovery attempts. The loss of the $74.00 support zone leaves price vulnerable to further downside towards $64.04 and potentially $60.13. Bulls first need to reclaim $74.00, followed by the major resistance around $83.70-$83.98, before the technical outlook begins to improve.