Solana price is facing a critical technical test as the price struggles below resistance, with traders watching $60 support as the next downside target.
Solana price is trading near $73 after recovering slightly from recent weakness, but the latest technical setup remains under pressure as traders monitor whether SOL can defend key support levels or extend the correction further.
According to Brave New Coin data, Solana is currently trading around $73.16 with a market capitalization of approximately $42.5 billion.
Solana Breakdown Targets $60 and $50
Solana’s short-term structure has weakened after breaking below a multi-month symmetrical triangle pattern, raising concerns about a deeper correction.
Coin Signals highlighted the breakdown from the pattern, with the chart projecting a downside move towards the $60-$50 region if sellers maintain control. The breakdown suggests that Solana price failed to hold the compression structure that had been forming between descending resistance and ascending support.
A chart shows Solana breaking below a symmetrical triangle pattern, with downside targets near $60 and $50. Source: Coin Signals via X
The first important support zone remains around $70-$68, where buyers have attempted to stabilize price. If this region fails, the next major downside area comes into focus near $60, followed by the broader $50 zone.
For bulls, reclaiming the $75-$80 area would be important. A move back above this resistance zone would weaken the bearish breakdown setup and open the possibility of a recovery towards $90-$100.
Spot Demand Remains Weak Despite SOL Bounce
Although Solana price has managed to bounce from recent lows, market data suggests buyers are not showing strong conviction yet. Ted Pillows highlighted that SOL’s recovery has occurred while spot demand remains relatively flat, which could signal weakness behind the move. The bounce has helped price recover towards the $73 region, but without stronger demand, the recovery risks turning into another lower high.
A chart shows Solana bouncing from support while spot demand remains weak. Source: Ted Pillows via X
The immediate resistance sits near $75-$76, followed by the larger supply zone between $80 and $85. Solana needs to reclaim these levels with stronger volume to confirm that buyers are regaining control.
If sellers return near resistance, Solana price could revisit the recent lows and eventually test the $60 support zone highlighted by the triangle breakdown.
Solana & Positive ETF Flows
Despite the weaker technical structure, institutional interest in Solana products has shown signs of resilience.
Cointelegraph reported that Solana ETF flows remained positive, with SOL products recording approximately $396K in inflows while Bitcoin ETFs experienced outflows during the same period. This divergence suggests that some investors continue to maintain exposure to Solana despite short-term price weakness.
The positive ETF activity does not immediately change the technical outlook, but it provides a supportive backdrop if SOL manages to stabilize above key demand zones. A sustained recovery above $80 would improve market sentiment and could shift attention back towards the $90-$100 resistance area.
Long-Term Solana Structure Shows Possible Bottom Formation
While short-term traders remain cautious, the longer-term Solana chart continues to attract attention due to a potential accumulation structure forming after the extended decline.
Immortal Crypto highlighted a broader market structure showing similarities to previous Solana accumulation phases. The chart suggests Solana price could be forming a base after a prolonged correction, with momentum indicators showing signs of improvement from oversold conditions.
A long-term Solana chart shows a potential bottoming structure after a major correction. Source: Immortal Crypto via X
For this scenario to develop, Solana must first stabilize above the current support zone and begin reclaiming important resistance levels. A recovery above $100 would represent a significant structural improvement and could bring higher targets back into focus.
Short-Term Solana Price Prediction
Solana is approaching an important decision point after losing the momentum that supported its previous recovery attempt.
Solana price trades at $73.16, up 0.50% in the last 24 hours. Source: SOL price via Brave New Coin
Holding the $70-$68 region could allow SOL to challenge $75-$80 again, with a successful breakout opening the way towards $90-$100. Positive ETF flows and the longer-term accumulation narrative provide some support for the bullish case.
However, the symmetrical triangle breakdown keeps downside risk active. A loss of $68 would increase the chances of a move towards $60, while a deeper breakdown could expose the $50 region.
Final Thoughts: Solana Eyes Recovery or Further Correction
Solana price remains caught between improving long-term signals and weakening short-term price action. The next major move will likely depend on whether buyers can defend current support and reclaim resistance levels.
Key levels to watch:
- Support: $70-$68, followed by $60 and $50
- Resistance: $75-$80, then $90-$100
- Bullish confirmation: Reclaim above $80 with stronger volume
- Bearish invalidation: Continued breakdown below $60
- For now, SOL’s recovery attempt remains fragile. A successful reclaim of resistance could revive the bullish structure, but failure to defend support may extend the correction before a stronger reversal develops.us