Analyst Reveals Why Solana Price $68 Support Could Trigger a Fresh SOL Rally

Key Insights:

• Solana price trades near $68 after rejection at the 200 SMA, with traders watching if support can hold.
• The $50-$70 zone remains a key accumulation range, while $50.02 marks the 0.618 Fibonacci level.
• Bulls need a move above $98.80 before SOL can challenge wider resistance near $297.

Solana has returned to focus after SOL tested the $68 area during the market pullback. Traders watch whether this level can hold after the token failed to clear resistance near $75. The move has placed Solana inside a wider $50 to $70 demand zone that earlier marked a major cycle base. Analysts say a defense of $68 could allow buyers to attempt a fresh recovery.

Solana Price Prediction: SOL Crypto Faces Key Test After Drop From $75

Solana price prediction models now center on the $68 support area after SOL lost momentum near a moving average. The token faced rejection close to $74, where sellers defended the descending 200-period simple moving average. That rejection weakened the short-term structure and pushed SOL through the $72 and $70 levels.

Market analyst Ali Charts had pointed to $68 as a downside target after a TD Sequential sell signal appeared near the high. SOL later traded near $68.88, meeting that target while entering a zone where buyers may try to slow the decline. A hold above this area could support a rebound toward $70 and $72.

SOLUSD 4-Hr Chart | Source: X

However, sellers still control the short-term trend while SOL crypto trades below the moving average resistance. A move under $68 could send the price toward $67, which now acts as the next support.

$68 Support Keeps SOL Crypto Rebound Setup in Focus

The $68 area carries short-term weight because it sits near the neckline of a bearish double-top pattern. Solana formed that structure after failing twice to break above $75. Sellers still defended the same upper range during the latest recovery attempt.

Analysts say a break below the neckline can open the way toward lower levels. Some estimates place the next downside area near $60 if the pattern fully plays out. That view matches the weak momentum reading, with the Relative Strength Index staying near 42.

Still, the same support zone could also attract dip buyers if SOL crypto avoids deeper losses. A move back above $70 would show that buyers have regained short-term control. A push through $72 would then place the $75 resistance back in focus.

SOL Crypto Long-Term Buy Zone Brings $100 Level Into View

Solana has also returned to a long-term accumulation range between about $50 and $70. This zone gained attention because SOL consolidated near similar long-term support before its strong 2022 and 2023 recovery. Crypto Patel noted that the current area lines up with the 0.618 Fibonacci level near $50.02.

The monthly chart shows SOL trading near $69 after losing support around $98.80. Bulls need to reclaim that $98.80 area before the broader recovery case gains strength. The $100 level remains the first major barrier for any larger rebound attempt.

Crypto Patel also mapped a long-term target near $1,000 if SOL repeats a cycle advance similar to its earlier rally.

Solana price would need sustained buying, stronger market conditions, and a recovery above several resistance levels before such a move could develop.

Solana Network Activity Add Risk

Solana also remains under pressure from slower activity across its network. Decentralized exchange volumes have fallen, while network fees have also dropped. Lower activity can reduce demand for SOL, since fewer transactions usually mean less use of the token.

The wider market has added to that pressure. Traders have moved away from risk assets amid concerns about U.S. rate expectations. A stronger dollar has also made it harder for crypto assets such as SOL to hold rebounds above key resistance levels.

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