SOL Tests Support as Bearish Structure Holds

• SOL remains bearish below $83.98, while a sweep beneath $70.58 could create a conditional rebound setup.
• The major clearing of liquidations occurred in derivatives data, with the sharpest event seen in leverage clearing in late-May.
• A sustained three-day close above $83.98 could target $98.41 and $116.88, while breakdown risks $62.96 and $60.13.

SOL has been on a prolonged downtrend and is still under pressure, traders are awaiting confirmation of the next big directional move at support levels of $70.58 and resistance levels of $83.98.

Bearish Structure Remains Dominant

Finora AI’s three-day market read keeps the broader bias bearish unless $83.98 is reclaimed. The token as of the time of writing, trades around $75.19, with 24-hour volume near $569.53 million. That positioning leaves price between important support and resistance levels.

The chart shows a clear transition from the previous highs near $230. Sellers gradually established lower highs after each recovery attempt. Consequently, the broader structure shifted from expansion toward sustained downside pressure.

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