Solana Price Targets $60.8 After Bearish Double-Top Breakdown

Solana's price has been on a downward trend after failing to break through the $75 resistance zone, and it may be heading towards a significant drop.

According to data from CoinGlass, Solana has formed a bearish double-top pattern, with a neckline breakdown targeting the $60.8 support zone.

The breakdown occurred as SOL price slipped beneath several short-term support zones established during the second half of June, and momentum indicators remain weak, with the Relative Strength Index hovering near 42 and remaining below its signal line.

Crypto analyst Satoshi Owl noted that a breakout above the current range could send Solana back toward the mid-$70s, but for now, the bearish thesis remains in focus.