Solana failed to hold onto gains above $67 and has slid into a short-term pullback, mirroring weakness across the broader crypto market including Bitcoin and Ethereum. SOL’s recent decline accelerated after it fell below key intraday supports and the 100-hour simple moving average, putting the token on the defensive for now.
What happened
- SOL dropped under $66 and $65 after testing the $67 area, breaking a bullish trend line that had been supporting the hourly chart for SOL/USD (Kraken data).
- The sell-off pushed the price below the 50% Fibonacci retracement of the move from the $60.12 swing low to the $67.90 high, and SOL even revisited the $63.20 support zone.
- The pair is now trading below the 100-hour SMA and faces immediate resistance around $65, with a more important barrier near $67.20.
Key technical levels to watch
- Immediate resistance: $65.00
- Major upside resistance: $67.20 (break and close above could clear the way toward $68 and then $70)
- Immediate support: $63.10 (near the 61.8% Fib) and $62.20
- Major downside targets if $62.20 breaks: $60, then $55
Indicators and momentum
- Hourly MACD is trending deeper into bearish territory, signaling increasing downside momentum.
- Hourly RSI sits below 50, which supports the short-term bearish bias.
Outlook
Traders should watch how SOL behaves around $63–$63.20 and the $65–$67 resistance corridor. A convincing reclaim of $67.20 would revive the bullish case and open the path to $70, while failure to hold $62.20 could accelerate the decline toward $60 and lower supports. For now, momentum favors the bears, but a decisive close above the key resistance levels would be required to shift the narrative back to bullish.
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