Solana price rebound faces resistance at $77. SOL fell 1.16% to $74.88 on Tuesday.
Nevertheless, the token posted gains during the previous seven days. Broader market weakness weighed on SOL. Total crypto cap dropped 0.6% to $2.17 trillion.
Why Solana price rebound matters
Solana ETF inflows reached a three-month high. This signals stronger institutional interest in the asset. Fresh fund flow occurred when SOL traded around $76.44.
Recent inflows are higher than June, July, and early August activity. Continued inflows might enhance market confidence. This could help Solana recover in upcoming sessions.
SOL needs to regain $80
SOL needs to regain $80 to reinforce recovery. This would aim at the 90 resistance area. A decisive break above 90 opens the way to $100.
Failure to maintain $74 can place SOL in further losses. This would expose levels around $70.
Technical indicators show weakness
Solana rose briefly to a high of 77.40. Fresh selling wiped out recent gains. The pullback brought SOL to the important $75 area.
The MACD indicates decreasing short-term momentum. The MACD line sits at 0.20. This is below the 0.443 signal line.
The histogram has fallen to negative 0.23. This suggests intensified bearish pressure. The rejection happened near $77.
The RSI is decreasing to 51.57. This reading is not oversold. It indicates declining demand nevertheless. This signals a neutral trend.
