Solana Price Struggles at Weekly Resistance Cluster

Solana's price recovery has reached $105, a weekly resistance cluster that combines Fibonacci, falling trendline, and 50-week average levels. This is a significant hurdle for the token to overcome if it wants to gain technical credibility.

The relative strength index (RSI) shows that selling pressure weakened in June, but the death cross remains a concern. The 50-week moving average has fallen below the 200-week average, indicating trend weakness.

Stablecoin supply rose by 5.05% over seven days, while trading volume fell. A larger stablecoin balance could support SOL's economics if usage becomes persistent and widespread.