Solana
Solana is trading around $93.50 on November 3, with its technical structure showing continued weakness despite signs of short-term stabilization. The 4-hour trend remains bearish, while the daily outlook is mixed to negative. This divergence suggests that buyers have not yet established enough momentum to confirm a sustained recovery.
Momentum indicators reinforce the cautious outlook. SOL’s daily RSI is hovering near 30, placing it close to oversold territory, while the 4-hour RSI is in the low 40s. Although these readings suggest that selling pressure may be approaching exhaustion, oversold conditions alone do not confirm a reversal. The daily MACD also remains negative, indicating that bearish momentum has not fully disappeared.
The first important resistance area is between $94.50 and $95.00. A sustained move above this zone could open the way toward $97.20–$98.00, where sellers may attempt to regain control. A stronger recovery would require SOL to reclaim these levels and demonstrate continued buying pressure rather than relying on a brief bounce.
On the downside, $91.00 is the immediate support level to watch. A daily close below this area would weaken the technical outlook and expose the next support zone around $89.00. If selling pressure continues, $87.00 could become the next downside target.
The bullish scenario depends on buyers defending the $91.00 region and pushing SOL above $95.00. Such a move could improve the short-term structure and create an opportunity to test higher resistance levels. However, failure to reclaim $95.00, followed by a break below $91.00, would strengthen the bearish scenario.
For now, Solana remains under pressure, and its proximity to oversold territory should not be mistaken for a confirmed bottom. Traders should monitor the $91.00 support and the $94.50–$95.00 resistance zone for a clearer indication of the next directional move.
