Solana is under fresh pressure after losing channel support and testing a key intraday floor near $67.48. Analysts now point to the $62-$43 zone as the next major area if selling continues. Solana Breaks Channel Support as Analysts Target $62-$43 Zone Solana (SOL) has moved lower after breaking beneath a previously monitored rising channel, according to analysts at More Crypto Online. The breakdown adds to the bearish outlook and suggests the correction from recent highs may not be finished. Solana 4-Day Chart (SOL/USD). Source: More Crypto Online on X The chart shows SOL falling below channel support after a recovery attempt that analysts classify as corrective rather than impulsive. Under the preferred Elliott Wave count, the rally from the February low is considered a B-wave bounce within a broader bearish structure, with the market now entering the next leg lower. According to the analysis, the primary support zone lies between $62 and $43. The chart highlights Fibonacci retracement levels near $62.43 and $43.22, which could act as areas where buyers attempt to establish a more durable low. A move into that region would also align with the projected third-wave decline shown in the bearish scenario. The chart includes an alternative bullish count that allows the current decline to become the final leg of a larger correction before a stronger recovery develops. However, More Crypto Online notes that this scenario remains secondary for now. Even if SOL rebounds from the $62-$43 area, a corrective recovery would still favor another decline afterward. From a technical perspective, the loss of channel support remains the key development. As long as SOL stays below the broken trendline, the broader structure continues to favor downside pressure and additional weakness toward the highlighted support region. Solana Tests Critical Intraday Support as Selling Pressure Builds Solana (SOL) is trading near a key short-term support level after a steady decline throughout the session. The chart shared by EllioTrades shows SOL repeatedly testing the $67.48 area, a level that has so far prevented a deeper breakdown. Solana 15-Minute Chart (SOL/USD). Source: EllioTrades on X The 15-minute chart highlights a clear sequence of lower highs and lower lows, reflecting persistent bearish momentum. Multiple recovery attempts failed to reclaim previous swing highs, while sellers continued pushing price back toward support. The $67.48 zone remains the most important level on the chart. SOL briefly bounced from this area several times, but each rebound became weaker than the previous one. This type of price action often signals that buyers are losing strength as support faces repeated tests. If SOL loses the $67.48 floor, selling pressure could accelerate and trigger a sharper downside move. Conversely, a strong defense of this level would be needed to stabilize the short-term structure and slow the ongoing decline. For now, the trend remains bearish, with price consolidating directly above support after an extended intraday selloff.
