Solana Price Plummets as Key Support Levels Are Broken

Solana's price has been sliding, and it's currently trading near $73 after slipping below key support on both its four-hour and 12-hour charts. This technical development has raised concerns that SOL may be at risk of a decline toward $68, with an even more bearish scenario pointing to a drop toward $60.

According to the charts, Solana is testing a potentially important breakdown on the four-hour chart after moving below the lower boundary of a rising price channel. The setup shifts attention toward lower support levels unless SOL quickly reclaims the broken trendline.

The 12-hour SOL/USDT chart shows Solana trading below a former support area after repeated failures to hold above it. EliZ argues that a bullish setup requires SOL to reclaim the highlighted blue zone before traders can treat the area as support again.

Unless Solana quickly recovers and reclaims the $74.30-$77 resistance area, the technical outlook points to possible declines toward $68 and eventually $60. A sustained breakdown would weaken the bullish pattern shown on the chart.