SOL Slips Below $65 as Hourly Trend Line Snaps

$SOL shed the $66 handle and slid beneath the 100-hourly simple moving average, pushing Solana into short-term bearish territory alongside a broader pullback in $BTC and $ETH. The move broke a bullish trend line that had been providing hourly-chart support at $66, and price briefly touched $63.20 before stabilizing — leaving bulls defending a narrow ledge ahead of what technicians identify as the next critical floor.

What the Chart Actually Broke

The immediate trigger was a failure to sustain gains above $67. Once sellers cleared the $66 trend-line support, the pair dropped through the 50% Fibonacci retracement of the prior upward wave — a leg that ran from a $60.12 swing low to a $67.90 high. That Fibonacci level had been a natural line in the sand; losing it shifted the near-term bias. The hourly MACD is now gaining momentum inside bearish territory, and the RSI has fallen below the 50 midline, removing what had been a technical tailwind for the bulls.

Where Support and Resistance Now Sit

On the downside, the first meaningful floor is clustered around $63.10, which also aligns with the 61.8% Fibonacci retracement of that same $60.12-to-$67.90 wave. Below that, $62.20 is the next structural support. A confirmed close under $62.20 opens the path toward $60, and the source flags $55 as a further target if $60 gives way — a scenario that would erase the entirety of the recent swing higher.

Recovery prospects hinge on reclaiming $65, the level immediately overhead. That price now acts as resistance rather than support. Bulls would then need to clear $66 and ultimately push a close above $67.20 to shift the hourly structure back in their favor. The source identifies $68 and $70 as the subsequent targets if that sequence plays out.

Broader Market Context

The SOL correction is not isolated. The source notes that $BTC and $ETH followed a similar pattern, suggesting the pressure is macro rather than Solana-specific. That framing cuts both ways: a market-wide bid could lift all three, but a continued risk-off tone gives bears little reason to cover. The $63 zone is the line the source marks as pivotal — hold it and a recovery setup remains intact; lose it and the swing-low test at $60 becomes the base case.