Solana Price Prediction: SOL Drops Below Channel, $62-$43 Support in Focus
Solana price prediction remains bearish after SOL broke below a previously watched rising channel and tested an intraday floor near $67.48. Analysts cited in the article (More Crypto Online) interpret the earlier rebound as a B-wave within a larger downtrend, implying another leg lower may be starting. The primary downside target is the $62 to $43 support zone, with Fibonacci reference points around $62.43 and $43.22.
On the short-term chart shared by EllioTrades, SOL shows persistent lower highs and lower lows as repeated attempts fail to reclaim prior swing levels. The $67.48 area is described as the key “line in the sand.” If SOL loses this floor, selling pressure could accelerate and push price toward the broader $62-$43 region. If buyers defend $67.48, a corrective bounce is possible—but the article notes that even then, the recovery may still be followed by another decline.
Overall, this Solana price prediction highlights a clear technical trigger: as long as SOL stays below the broken trendline, the market structure continues to favor downside into the next support band.
Bearish
The article’s Solana price prediction is bearish because SOL has broken channel support and is testing an intraday level ($67.48) that repeatedly failed to hold. When price forms lower highs/lower lows and rebounds weaken each time, it often signals waning buyer strength—historically consistent with deeper pullbacks after trendline/channel breaks.
Short-term, traders will likely watch whether SOL can reclaim and hold above $67.48. A clean breakdown would likely trigger momentum selling and expand volatility, increasing odds of a move into the $62-$43 support zone.
Long-term (in the context of the Elliott Wave count presented), even a bounce from $62-$43 may be treated as corrective within a larger bearish structure, meaning rallies could face renewed selling pressure. This makes the setup unfavorable for trend-following longs until SOL proves strength above the broken trendline; however, it also creates a defined risk area for mean-reversion traders targeting the next support band.