Solana remains below key resistance levels, with analysts warning that the latest rebound may still be corrective rather than a confirmed reversal. A rejection in the area between $83 and $98.50 could put SOL back on a path toward $64, with deeper downside levels near $60, $48.80 and $43.22 remaining in view.

The focus on these levels reflects a technical setup rather than a fundamental forecast. Traders often use resistance, support, trendlines and Fibonacci levels to judge whether a rebound is gaining strength or simply retracing part of a prior decline.

Solana Tests Resistance as $60 Target Remains in Focus

Solana is trading near a major resistance zone between $77.50 and $83, where analyst Molchanov Andrey expects sellers to regain control. The setup keeps attention on the risk of a medium-term correction toward the $62.22 to $60.03 area.

SOL six-hour chart. Source: Molchanov Andrey/TradingView

On the six-hour chart, SOL is consolidating within a tightening structure after recovering from its June low. The price remains above an ascending trendline, but repeated failures near the current resistance zone indicate that buyers have not yet confirmed a breakout.

A short move above $83 could still carry SOL toward $87.90 as price seeks liquidity above recent highs. However, according to the analyst, such a move would likely remain temporary unless buyers can establish support above that level.

If SOL is rejected, the first areas to watch would be Fibonacci support levels near $73.89 and $71.55. A loss of those levels could increase downside pressure toward $68.28 before the broader target zone between $62.22 and $60.03 comes into focus.

The bearish scenario would weaken if SOL breaks above $87.90 and then holds that level as support. In that case, attention could shift to the next major resistance level near $94.26.

For now, Solana remains at a key technical decision point. Resistance continues to cap the recovery, while a break below the rising trendline could confirm that another corrective leg has begun.

Recovery Stalls Below $98.50 as Breakdown Risk Persists

Solana also remains within a broader downtrend, with its latest recovery still looking corrective rather than the beginning of a confirmed reversal. MCO Global said SOL could form another local high, but the bearish structure remains intact while the price trades below $98.50.

SOL daily chart. Source: MCO Global/TradingView

The daily chart identifies immediate resistance at $82.26, followed by $89.41 and $93.99. If SOL clears those levels, the recovery could extend toward $98.50, an area where stronger selling pressure may return.

The main confirmation level on the downside is near $64.30, the late-June swing low. A decisive break below that support would suggest that the corrective bounce has ended and that the next bearish leg has started.

Under that scenario, the first downside target would be near $48.80, followed by $43.22. A deeper decline could eventually bring the broader support region around $31.95 into focus, though that remains a longer-term and highly conditional scenario.

The bearish outlook would weaken if SOL breaks above $98.50 and holds that level as support. Until then, the recovery remains vulnerable, with $64.30 serving as the key line between continued consolidation and another major decline.

Source: https://coinpaper.com/33422/solana-price-prediction-sol-risks-drop-to-60-as-83-resistance-holds