Solana (SOL) has pulled back after it couldn’t stay above $67. The price is now in a correction, similar to what’s happening in the wider crypto market. After rising from about $60.12 to $67.90, SOL faced selling that pushed it below key technical levels.
The drop picked up speed once SOL fell below $66 and $65, putting it in a short-term downtrend. Charts also show it broke below a trend line that had supported it near $66. This shift made traders more cautious.
At present, Solana is trading below both the $65 mark and its 100-hour simple moving average, indicating that buyers have lost some control in the near term. However, the market remains focused on whether the asset can maintain support above the critical $63 region.
Resistance Levels Shape Recovery Outlook
Despite the recent pullback, Solana still has an opportunity to regain bullish momentum if buyers can defend current support levels. Market participants are closely watching several resistance zones that could determine the next major move.
Key levels include:
- Immediate resistance near $65
- Stronger resistance around $66
- Major breakout level at $67.20
- Next upside target near $68
- Psychological resistance at $70
A decisive close above $67.20 would likely improve market sentiment and could trigger renewed buying activity. Such a move would confirm that the recent decline was merely a correction within a broader upward trend.
Traders also point out that getting back above the 100-hour moving average would make a recovery more likely. If momentum picks up, reaching $70 could be within reach.
Can Solana Avoid a Deeper Decline?
If SOL can’t get past the nearby resistance levels, the risk of further drops remains. Support is now around $63.10, which matches the 61.8% Fibonacci retracement from the $60.12 to $67.90 rally. Many see this area as a key fight between buyers and sellers.
Should this support fail, traders may shift their attention to lower targets:
- First major support at $62.20
- Secondary support around $60
- Extended downside target near $55
A breakdown below $62.20 would likely increase bearish pressure and raise the probability of a retest of the $60 zone. Further weakness beneath that level could expose SOL to a deeper correction toward $55.
Right now, Solana is at a key moment. Whether it can stay above $63 and break past $66 and $67.20 will probably decide if it rallies toward $70 or drops further in the coming weeks.
Sources & Methodology
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