As this is my first post here, hello to everyone.

I would like to ask you for help, because I don't think I can handle it myself anytime soon. My car is 1992 2.5l 20v Volvo 850. Sedan, no turbo. I have owned it for 6 months now.

Everything was fine, maybe sometimes it took a few cranks to start, but eventually the car started every time and drove really nice. Then, one day, I tried to start it, but no luck. I actually noticed right away the cranking sounded different and realized something must have gone wrong. While engine is cranking, every 0,5-1 second I can feel this slight vibration, like it is just about to start. But something prevents it to. That day conditions were quite damp.

Now it's been like a week since this problem started, the car still won't start and I did check few things.

-there is fuel in the tank, there was before and I have added 5 litres to make sure
-battery has been swapped, it's new and good
-spark looks good, I pulled the cable from first cylinder, attached spare plug (new) and tried to start the engine, sparks were there like every second
-by the way I noticed some dampness on side of ignition coil, white foamy fluid?
-I pressed this valve on fuel rail, fuel comes out nicely, so it seems pressure is ok
-I found some water in fuse bay, not that the fuses are under water, just there is a puddle around this plastic fuse box. I drained it, but no change in starting the car. Maybe it should dry out further.

There are no codes on diagnostic unit. I was thinking maybe you could shoot me some suggestions, what do i check further.