This 1-hour SOLANA chart shows a strong downtrend that developed inside a descending channel (blue parallel lines). After a sharp selloff from the $81 area, price broke out of the bearish channel near June 7 and found support around the **$63.00–$63.50 demand zone** (green area).
Following the breakout, SOL consolidated within a sideways range (yellow box), forming a potential accumulation phase. Price recently retested the lower boundary of this range and is currently trading around **$64.50**, holding above the key support zone.
**Bullish Scenario:**
* **Support Zone:** $63.00 – $63.50
* **Current Price:** ~$64.51
* **Target:** **$68.01**
* Expected move: If buyers continue defending support, SOL could rebound toward the upper resistance level at **$68.01**, representing approximately **5.4% upside** from current levels.
**Key Levels:**
* 🟢 Support: $63.00 – $63.50
* 🔵 Resistance / Target: $68.01
* 📈 Bias: Bullish while price remains above support
**Trade Idea:**
A sustained hold above the green support area increases the probability of a move toward **$68.01**. A breakdown below **$63.00** would invalidate the bullish setup and could lead to further downside pressure.
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