Solana Tests Key Support as Analysts Watch $68 Level

[kevin1]

SOL/USD, one-day chart. Source: Cointelegraph/TradingView

Solana is once again testing the lower boundary of its three-month trading range after failing to break through resistance near $95. The asset has spent most of the past quarter moving between $80 and $95, with recent selling pressure pushing it back toward critical support.

Market analysts have identified the $68 area as a major level to watch if SOL breaks below $80. Liquidation data shows a significant concentration of leveraged positions near that zone, meaning increased volatility could emerge if support fails. Some traders have already positioned bids around the yearly low in anticipation of a deeper correction.

Despite the bearish technical setup, spot demand and ETF inflows continue to provide some support for the asset. The next major move will likely depend on whether buyers can defend the current range or if futures market weakness begins to spill into the broader market.

[etfs]

solana has spent so long inside this range that traders are starting to pay rent there

[bonk]

If $80 breaks, I wouldn't be surprised to see liquidity hunted around the $68 zone