Solana’s price has dipped to around $73 after breaking below key support zones on both the four-hour and 12-hour charts. The next resistance range to watch lies between $74.30 and $77, a level SOL must reclaim soon to avoid a slide toward $68 or even $60 in a more bearish scenario.
Four-Hour Chart Signals Potential Breakdown
On the short-term chart, Solana recently slipped beneath the lower boundary of its rising price channel, signaling weakening bullish momentum. Holding above $77 had been key in maintaining the uptrend, but the current price action suggests strong selling pressure. If SOL fails to break back above this line, $68 could serve as the next point of support, aligned with an internal channel trendline. However, any bounce from $68 may only be corrective rather than a strong reversal.
Should downward momentum persist, a fall toward $60 becomes a real possibility, matching the channel’s bottom boundary. Confirmation of this bearish outlook would come from multiple closes below the broken channel line and a rejection near $77 on any retest attempt, effectively turning former support into resistance.
Reclaiming Resistance key for Bulls
Looking at the 12-hour timeframe, Solana remains below a key resistance band from $74.30 to $75. Traders eye a confirmed move back above this zone before considering a bullish setup. Without that, downside pressure is likely to continue.
For now, SOL’s trajectory hinges on its ability to secure gains above this resistance. A successful reclaim could reignite the path toward higher targets near $84, with the upper channel line approaching $92. Until then, SOL remains susceptible to further losses, challenging investors to watch the $68 support carefully.
This content is for informational purposes and should not be considered financial advice.
