Solana's Price Action Hinges on Key $71.90 Level

Solana's price action has caught the attention of More Crypto Online, a popular technical analysis channel on YouTube. The analyst believes that Solana may retest $72 and potentially fall towards the $68-$69 area if the current move is the fifth wave of a C-wave decline.

The key level to watch is $71.90, as a break below it could strengthen the case for another five-wave move down, according to the analyst's Elliott Wave analysis.

However, there is an alternative scenario where Solana climbs above the recent swing high around $74-$75, signaling that the next upward move has already begun. In this case, the token could attempt to revisit the $82-$94 resistance region, where it topped during July.