Solana failed to stay above $67 and corrected some gains. SOL price is moving 
lower and might aim for another increase if it stays above $63.00. SOL price 
started a downside correction below $66 against the US Dollar. The price is 
now trading below $65 and the 100-hourly simple moving average. There was a 
break below a bullish trend line with support at $66 on the hourly chart of 
the SOL/USD pair (data source from Kraken). The pair could extend losses if it 
dips below the $63 zone. Solana Price Dips Again Solana price failed to stay 
above $67 and started a downside correction, like Bitcoin and Ethereum. SOL 
dipped below $66 and $65 to enter a short-term bearish zone. There was a move 
below the 50% Fib retracement level of the upward wave from the $60.12 swing 
low to the $67.90 high. There was a break below a bullish trend line with 
support at $66 on the hourly chart of the SOL/USD pair. The price even tested 
the $63.20 support. Solana is now trading below $65 and the 100-hourly simple 
moving average. On the upside, the price is facing resistance near the $65 
level. The next major resistance is near the $66 level. The main resistance 
could be $67.20. A successful close above the $67.20 resistance zone could set 
the pace for another steady increase. The next key resistance is $68. Any more 
gains might send the price toward the $70 level. Downside Break In SOL? If SOL 
fails to rise above the $66 resistance, it could start another decline. 
Initial support on the downside is near the $63.10 zone and the 61.8% Fib 
retracement level of the upward wave from the $60.12 swing low to the $67.90 
high. The first major support is near the $62.20 level. A break below the 
$62.20 level might send the price toward the $60 support zone. If there is a 
close below the $60 support, the price could decline toward the $55 support in 
the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is 
gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – 
The RSI for SOL/USD is below the 50 level. Major Support Levels – $63.10 and 
$62.50. Major Resistance Levels – $65.00 and $67.20.

Solana failed to stay above $67 and corrected some gains. SOL price is moving lower and might aim for another increase if it stays above $63.00. SOL price started a downside correction below $66 against the US Dollar. The price is now trading below $65 and the 100-hourly simple moving average. There was a break &#8230;

Solana (SOL) Back On The Defensive—Can Bulls Prevent Another Drop?

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Solana (SOL) Back On The Defensive—Can Bulls Prevent Another Drop?

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