Solana Price Bounces Off $89 but The Clock Is Ticking

Solana’s SOL token traded around $90 on November 6 after rebounding from roughly $89, where its 200-day simple moving average, a long-term trend line, met the lower rail of a descending trading channel. A wide selloff on November 5 had erased an earlier bounce toward $96 and closed just above that average, which SOL had held since an August breakout. The 14-day relative strength index, a momentum gauge, was 31.29, compared with 27.55 on October 30, and the 0.618 retracement level sat near $85. About 743,000 SOL had traded with half the session remaining.