Solana (SOL) is facing growing bearish pressure after failing to reclaim critical resistance and breaking below a key technical pattern. The cryptocurrency is currently trading near $83.76, having lost support on both short-term and daily timeframes.
Triangle Breakdown Targets $77
On the 1-hour chart, Solana broke below a tightening triangle pattern, shifting short-term momentum to the downside. Analyst Ali Charts noted that the setup formed through late April as price moved between lower highs and higher lows. The breakdown pushed SOL below the lower trendline, weakening the structure.
Ali Charts stated that the breakout could set up a move toward $77, which now becomes the primary downside target if sellers maintain control. The chart shows SOL rejected near the upper trendline before the drop, with price falling quickly through the lower side of the pattern and continuing lower around the $84 area. This indicates buyers lost short-term control after several failed attempts to push price higher.
For now, SOL needs to reclaim the broken trendline to reduce downside pressure. Until then, the focus remains on the $83, $82, and $77 zones. A move back above the triangle would weaken the bearish setup.
Daily Chart Points to Deeper Decline
The daily chart presents a broader bearish outlook. Analyst KNIGHT shared a chart showing SOL moving below the blue resistance area near the $86–$88 range. Price has tested that zone several times since February but failed to hold above it, keeping sellers in control.
The chart marks a possible downside path toward the lower support line near $67. A deeper projection extends below that level, with KNIGHT's post adding a $40 bearish target for SOL. However, the chart itself first highlights the lower range around $67 before any larger breakdown.
SOL has moved sideways for several months after its sharp February decline. During that range, buyers defended the lower area while sellers capped rebounds near the upper blue zone, creating a wide consolidation between resistance near $88 and support near $67.
Now, the latest daily candle shows SOL slipping from resistance again. If price loses momentum below the mid-range, the $80 and $76 areas may come into focus first. Solana needs a daily close above the blue resistance area to weaken the bearish setup. Until then, the chart keeps pressure on the downside, with $67 as the main visible support and $40 as the broader bearish target.
