Solana Eyes Crucial Support at $67 Amid Weakening Momentum

Solana's price has been declining steadily since late-July highs, but it may be nearing a decisive technical area after extending its decline toward the $67 support zone. The short-term trend remains bearish, but weakening momentum and similarities to Solana's 2022-23 accumulation structure suggest that a broader bottom may be forming.

Solana's chart highlights similarities between the current structure and the accumulation phase that formed during 2022 and 2023. This suggests that the cryptocurrency may be developing a long-term base after its sharp decline. The three-day SOL/USDT chart shows Solana consolidating near the lower end of its range after falling from the roughly $240 area.

Price remains below a broad resistance zone near $95 to $100, which now represents the first major level bulls must reclaim before a stronger recovery can take shape. The analyst compares the current setup with Solana's previous market bottom during 2022-23, when SOL traded below a similar horizontal barrier for several months while price gradually stabilized.

The relative strength index adds a constructive signal, as SOL has recorded slightly lower lows, but the RSI has formed a higher low. This bullish divergence indicates that downward momentum is weakening, even as price remains under pressure.