Solana price fell to $68 short term target after failing to break key resistance

Solana has entered a critical support region after reaching a closely watched short-term downside target. According to technical charts shared by analysts, SOL was unable to overcome important resistance levels and subsequently retraced all the way down to the $68 range. Despite this decline, the current price zone is seen by some market observers as a potential accumulation area within the longer-term outlook.Short-term $68 level comes into focusLong-term accumulation zone revisitedKey levels cluster around $50, $70, and $100 Short-term $68 level comes into focusOn the four-hour chart, SOL faced strong selling pressure around $74, with the negatively sloped 200-period simple moving average adding to the resistance in that region. A TD Sequential sell signal appeared near the local peak, further supporting the technical case for a move lower.In the wake of these signals, Solana first slid below $72 and then dropped under $70, eventually touching $68.88. This decline marked the realization of the short-term $68 target closely followed by analyst Ali Charts. The current pullback has brought SOL into a zone where buyers are expected to defend support.According to analysts, if Solana holds above $68, a short-term recovery toward $70 and $72 may unfold. However, if this support level is clearly breached, the next major support at $67 will come into play.Long-term accumulation zone revisitedMonthly charts indicate that Solana has returned to the long-term accumulation area where it consolidated ahead of its last major rally. After slipping below the $98.80 support, the price has settled in the $50 to $70 range, a zone closely monitored by long-term investors as a key accumulation base. Mini glossary: Fibonacci levels are ratios used in technical analysis to identify potential support and resistance zones. The 0.618 retracement, mentioned in the news, is considered one of the most significant pullback points in the market.Analyst Crypto Patel noted that Solana’s current structure is reminiscent of the 2022–2023 bottoming period, when SOL traded sideways around long-term support before rallying more than 2,200%. If a similar move were to occur now, a long-term projection toward $1,000 could be discussed; however, it is emphasized that this is not a confirmed target.Key levels cluster around $50, $70, and $100For Solana to strengthen its upward scenario, it must first reclaim the $98.80 level. Should that happen, the broader resistance zone around $297 could become the next area to watch. Therefore, analysts caution against conflating short-term relief rallies with a full reversal of the long-term trend.Conversely, if weakness persists and the price falls below $50, major monthly supports at $32.89 and $26.36 would come into focus. For now, the $50–$70 range remains the primary accumulation zone, while the $100 level is viewed as the first major threshold where buyers may reestablish control.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.