Solana is attempting a rebound around the $84 level after forming a hidden bullish divergence on the charts — a signal that selling momentum may be weakening. This pattern typically suggests buyers are quietly stepping in, and short-term recovery could follow if support holds.

However, the situation isn’t that simple. Sell-side volume has been rising, indicating that more participants are offloading SOL during each bounce. Instead of panic selling, this looks more like controlled distribution, where larger players are gradually exiting positions while the price tries to recover.

The broader context matters here. Ongoing stress in DeFi markets is likely forcing some traders to liquidate assets, including SOL, to cover positions. This creates a tug-of-war between short-term sellers and buyers trying to defend key levels.