Solana remains trapped below key resistance, with analysts warning that the latest rebound may only be corrective. A rejection between $83 and $98.50 could send SOL back toward $64 before deeper targets near $60, $48.80 and $43.22 come into view.
Solana Faces Reversal Risk as $60 Target Remains in Play
Solana is testing a major resistance zone between $77.50 and $83, where analyst Molchanov Andrey expects sellers to regain control. The setup keeps the risk of a medium-term correction toward $62.22 to $60.03 in focus.
SOL six-hour chart. Source: Molchanov Andrey/TradingView
The six-hour chart shows SOL consolidating inside a tightening structure after recovering from its June low. Price remains above an ascending trendline, but repeated failures around the current resistance zone suggest buyers have not secured a breakout.
A brief move above $83 could still push SOL toward $87.90 as price targets liquidity above recent highs. However, the analyst expects such a move to remain temporary unless buyers establish support above that level.
A rejection would first expose the Fibonacci support levels near $73.89 and $71.55. Losing those areas could accelerate the decline toward $68.28 before the broader $62.22 to $60.03 target zone comes into view.
The bearish scenario would weaken if SOL breaks above $87.90 and holds the level as support. That could shift attention toward the next major resistance near $94.26.
For now, Solana remains at a decision point. Resistance continues to limit the recovery, while a loss of the rising trendline could confirm that the next corrective leg has begun.
Solana Faces Breakdown Risk as Recovery Stalls Below $98.50
Solana remains inside a broader downtrend, with its latest recovery still appearing corrective rather than the start of a confirmed reversal. MCO Global said SOL could form another local high, but the bearish structure remains valid while price stays below $98.50.
SOL daily chart. Source: MCO Global/TradingView
The chart identifies immediate resistance at $82.26, followed by $89.41 and $93.99. Clearing these levels could extend the recovery toward $98.50, where stronger selling pressure may return.
However, the main confirmation level sits near $64.30, the late-June swing low. A decisive break below that support would suggest the corrective bounce has ended and the next bearish leg has started.
The first downside target would then sit near $48.80, followed by $43.22. A deeper decline could eventually bring the broader support region around $31.95 into focus, although that remains a longer-term and highly conditional scenario.
The bearish outlook would weaken if SOL breaks above $98.50 and holds the level as support. Until then, the recovery remains vulnerable, with $64.30 acting as the key line separating consolidation from another major decline.
