Solana (SOL) Breaks Down: $67 Support Tests, $40 Bear Target
Solana (SOL) is turning bearish as price rejects the $86–$88 resistance repeatedly. After failing to hold above this zone, SOL is slipping and $67 is flagged as the next key support. The latest setup also cites a broader downside objective near $40.
On the 1-hour timeframe, SOL broke down from a tightening triangle pattern, putting sellers in control. Near-term downside focus shifts to $77, followed by additional attention around $83 and $82. Traders are watching for a reclaim: SOL needs a daily close back above the broken triangle trendline/upper resistance area to weaken the bearish structure.
Key levels: resistance $86–$88 (and recovery signal); lower zones $77 then $67. If $67 fails, the market could revisit deeper bearish scenarios, with $40 as the longer-range target. This is a technical, price-action read for SOL traders—no investment advice.
Bearish
Both articles frame SOL as losing momentum after repeated rejections near $86–$88. The earlier view emphasized a range breakdown risk toward $67 and potentially below $60; the later update adds a clearer technical trigger: SOL broke down from a tightening triangle on the 1-hour chart. That increases the probability of near-term continuation lower toward $77.
For trading, the bearish impact is most immediate if SOL fails to reclaim the broken triangle trendline and the nearby $83–$82 area. A confirmed break below $67 would likely shift traders’ focus back to deeper downside, with $40 highlighted as the longer-range target. Medium/longer-term, upside still depends on whether SOL can recover above the $86–$88 zone; otherwise the current technical structure remains vulnerable.