Solana's price action remains stuck under a critical resistance level near $83, raising concerns among analysts about a potential pullback. Despite a recent rebound, some experts view this rally as merely corrective, warning that failure to clear the $83 to $98.50 zone could push SOL down to $64 or lower.

Resistance Holds as Sellers Eye $60 Target

On the six-hour chart, SOL is consolidating within a tightening range after bouncing off its June lows. The coin stays above an ascending trendline, but repeated attempts to break past $83 have faltered. Analyst Molchanov Andrey expects sellers to take control around $77.50 to $83, increasing the odds of a medium-term correction toward the $62.22 to $60.03 area.

While a brief surge above $83 might lift SOL to about $87.90, this move could be short-lived unless buyers manage to hold above that level. If rejection occurs, support levels at $73.89 and $71.55 would be tested first. A break below those could accelerate the slide toward the main target zone near $60.

The bearish case would weaken only if SOL breaks and sustains above $87.90, potentially shifting focus to resistance near $94.26. For now, the coin teeters at a crossroads, with resistance capping recovery efforts and a potential breakdown of the ascending trendline signaling a fresh corrective phase.

On the daily timeframe, the latest recovery still appears corrective within an overall downtrend. MCO Global highlights immediate resistance at $82.26, $89.41, and $93.99, with stronger selling expected near $98.50. Clearing these zones could extend the bounce, but only a decisive move above $98.50 would threaten the bearish outlook.

Crucially, the $64.30 level, marking a swing low from late June, acts as a key support. Falling below this point would confirm the end of the corrective bounce and open the door to deeper losses targeting $48.80 and $43.22. In a more prolonged downside scenario, support around $31.95 could come into play.

This cautious stance on Solana echoes broader crypto market pressures where resistance zones frequently cap rallies before retracements. The $83 barrier remains a key level for SOL’s next directional move.