Solana has once again stalled around the critical resistance range of $86 to $88, strengthening short-term selling pressure as buyers failed to push the price above this key zone. Market observers note that the inability to break past this level has kept sellers in control, as Solana currently trades near $84. The next significant support is seen at $67, raising concerns about a possible move even lower in the medium term.
Descending triangle pattern breaks
On the hourly chart, Solana decisively broke below the lower trend line of a narrowing triangle pattern. This setup, forming since late April, had reflected tightening price action with lower highs and higher lows, but the recent downward move brought a clear break of support, intensifying short-term bearish momentum.
According to a chart shared by analyst Ali Charts, SOL lost its triangle support and was last seen trading at $83.81. With this development, $77 has emerged as the first major target on the downside. If the price cannot recover back above the broken support, renewed selling pressure may dominate in the days ahead.
The analysis emphasized, “A drop to $77 has made this level a critical support for Solana in the short term, and if buyers cannot reclaim the previous support zone, the downtrend may persist.”
During attempts at a rebound, Solana was quickly rejected from the triangle’s upper boundary and reversed lower. Buyers have struggled to regain control for some time, while short-term sellers remain firmly in charge of the market.
Daily charts hint at medium-term risk
Solana is also trading around $83.76 on the daily chart. An analysis by KNIGHT highlights another failed attempt to clear resistance between $86 and $88—a ceiling that has been unbreakable since February. The repeated inability to close above this level reveals that sellers continue to dominate.
The same analysis points to a strong support zone at $67. Should Solana close below this line on the daily chart, the risk of a deeper drop increases. KNIGHT specifically notes the $40 area as a possible downside target, but stresses that $67 stands as a decisive threshold for now.
After February’s steep decline, Solana moved sideways for several months, with buyers defending the lower range and sellers blocking upward moves near $88. As a result, price action has played out in a broad zone between $67 and $88, reflecting a structural consolidation.
Key levels to watch going forward
The most recent daily candlestick confirms yet another rejection from upper resistance. Should Solana slide below midpoint levels and fail to stage a meaningful bounce, tests of $80 and $76 could follow in the near term.
For a convincing recovery, Solana needs to close daily sessions above the $86 to $88 resistance area. Achieving this would help alleviate downward pressure and could mark the start of a more bullish phase. As long as the charts indicate persistent bearish momentum, the $67 major support holds immediate relevance, while $40 remains a lingering risk for the longer term.
