Solana Price Faces Technical Challenges as Sellers Target $60 and $50 Levels
Solana's price is facing significant technical challenges as it struggles below resistance levels. According to Brave New Coin data, Solana is currently trading at $73.16 with a market capitalization of approximately $42.5 billion.
The breakdown from the symmetrical triangle pattern has weakened the short-term structure and raised concerns about a deeper correction. If sellers maintain control, the price could move towards the $60-$50 region, as highlighted by Coin Signals in their chart.
Bulls are watching for a reclaim of the $75-$80 area, which would weaken the bearish breakdown setup and open the possibility of a recovery towards $90-$100. However, spot demand remains weak despite the recent bounce, and without stronger volume, the recovery risks turning into another lower high.