A liquidation wick or strong impulse is needed before any bullish trend reversal can be confirmed.
Solana is under pressure. Crypto analyst Crypto Bully has raised red flags over SOL’s recent price action. The token has repeatedly failed to break past the $90 resistance zone. Now, the analyst believes a deeper drop toward $67 could be coming.
According to CoinGecko, SOL is currently trading at $78.38, down 0.62% in 24 hours and 7.16% over the past week.
The $90 level has proven to be a stubborn wall for Solana. Crypto Bully pointed out that SOL tested this resistance multiple times without success.
Every rally attempt has been capped below $90, creating a pattern of lower highs. This structure confirms that bearish momentum is firmly in control. Price is also trading below both the 20 and 50 EMA. That signals weak short-term and medium-term momentum for the asset.
The analyst noted that the downtrend has only accelerated after each failed attempt at $90. This EMA rejection paired with the sharp move lower paints a tough picture. Solana bulls have not found enough strength to shift the trend yet.
Crypto Bully has his eyes fixed on the $76 swing low. This level is acting as the first line of defense for Solana buyers. However, the reaction at this support has been weak so far. That weakness makes the level vulnerable to a breakdown.
If SOL breaks below $76, the analyst says it would confirm a bearish Break of Structure. That outcome could open the door to a drop toward the $67 monthly low.
Crypto Bully also flagged that BTC looks “very iffy” at current levels. A shaky Bitcoin adds more risk for Solana in the near term.
Crypto Bully is not looking to enter any trades just yet. He is waiting for either a liquidation wick or a strong bullish impulse.
A liquidation wick would mean SOL briefly dips below $76, triggering stop-losses before bouncing. This sweep-and-reversal pattern is what the analyst wants to see before making a move.
The $67 zone is seen as a high-liquidity area with historical support. That makes it an attractive spot for a potential bounce if the price gets there. Without a clean flush of liquidity, Crypto Bully sees the structure as still bearish.
A reversal for Solana would need clear confirmation. Crypto Bully outlined a few conditions that would change his outlook.
First, SOL would need a strong impulse candle to reclaim the 20 and 50 EMA. Second, price would need to form a higher low after sweeping below $76. Third, a break above short-term resistance in the $82 to $85 range would be needed.
Until those conditions are met, any rally is likely just a correction. The analyst’s resistance levels sit at $85 and $90. The immediate support remains at $76, with $67 as the next major downside target. Crypto Bully’s approach stays patient and risk-managed for now.
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