Solana Price Under Pressure as Sellers Target Key Support Levels

Solana's price is under pressure as it struggles to hold above support levels, according to a recent technical analysis. The cryptocurrency has been trading near $73 after recovering from recent weakness, but its short-term structure remains under pressure.

The breakdown below a multi-month symmetrical triangle pattern raises concerns about a deeper correction, with traders monitoring whether Solana can defend key support levels or extend the correction further.

According to Brave New Coin data, Solana's market capitalization is approximately $42.5 billion, and it is currently trading at around $73.16. The first important support zone remains around $70-$68, where buyers have attempted to stabilize price.

For bulls, reclaiming the $75-$80 area would be crucial in weakening the bearish breakdown setup and opening the possibility of a recovery towards $90-$100. However, if sellers return near resistance, Solana's price could revisit recent lows and eventually test the $60 support zone highlighted by the triangle breakdown.