Solana has reached its short-term downside target after falling below key resistance, but the drop has pushed SOL into a major long-term accumulation zone. Analysts are now watching whether support between $50 and $70 can spark a recovery similar to the rally that followed its previous market bottom.
Solana Hits $68 Target After Rejection Near 200 SMA
Solana has reached the $68 downside target after failing to break above a major resistance zone on the four-hour chart.
SOL/USD Four-Hour Chart. Source: Ali Charts (@alicharts) on X
The chart shows SOL facing repeated selling pressure near $74, where the descending 200-period simple moving average added further resistance. A TD Sequential sell signal also appeared near the local high, supporting the bearish reversal.
SOL then fell through the $72 and $70 levels before trading near $68.88. The move confirms Ali Charts’ $68 target, although price is now approaching an area where buyers may attempt to defend support.
If $68 holds, Solana could stage a short-term rebound toward $70 and $72. However, a clear break below this level could expose the next support near $67.
Solana Returns to Historic Buy Zone as $1,000 Target Emerges
Solana has returned to a long-term accumulation zone that preceded its previous 2,200% rally, putting a possible major recovery back in focus.
SOL/USDT Monthly Fibonacci and Accumulation Chart. Source: Crypto Patel (@CryptoPatel) on X
The monthly chart shows SOL trading near $69 after breaking below support around $98.80. Price is now inside the highlighted accumulation zone between roughly $50 and $70, with the 0.618 Fibonacci level near $50.02 acting as an important lower boundary.
Crypto Patel compares the current structure with Solana’s 2022–2023 bottom, when SOL consolidated near long-term support before climbing more than 2,000%. A similar percentage move from the current zone could take SOL toward $1,000, although this remains a long-term projection rather than a confirmed target.
For the bullish scenario to strengthen, Solana would first need to recover above $98.80 and then challenge the wider resistance zone near $297. Continued weakness below $50 could instead expose monthly support around $32.89 and $26.36.
For now, the $50–$70 range remains the main accumulation area, while $100 is the first major level bulls need to reclaim.
