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Solana's price dropped from $98.40 to around $89.92, as traders increased profit-taking pressure around the critical psychological resistance area at $100 during Wednesday's trading sessions.
Buyers continued to defend the support zone between $76 and $78, helping Solana maintain higher lows and sustain short-term positive momentum in recent sessions.
The Relative Strength Index (RSI) remained above neutral levels while Solana tested the Gaussian channel resistance level, keeping traders focused on another potential breakout later this week.
Solana's coin declined sharply after approaching the critical $100 level, as traders took profits following a strong rebound earlier this month. The coin's price fell from its recent high near $98.40 to approximately $89.92 in a short period, reflecting increased pressure around a major resistance zone.