Solana (SOL) is currently defending a crucial support level around $75.20, which could determine its direction in the coming weeks. After briefly dipping below this floor in June, SOL has rebounded, and holding above it may confirm the breakdown as a false move, potentially paving the way toward $98 and eventually $120.
According to analysts, the $82–$94 resistance zone remains a key hurdle. A successful breakout above this area could signal a structural change and open the path to the $118–$128 target range. Conversely, failure to stay above $75.20 raises the risk of a decline toward $70 or the June lows near $60–$65.
On the bearish side, the recent rejection from the $82–$94 resistance zone suggests the rebound might be corrective within a larger downtrend. A break below $62 could trigger a steeper fall, with potential targets at $48, $43, and even $32. This scenario aligns with a possible third Elliott Wave decline, often the strongest part of a bearish sequence.
Ultimately, Solana’s short-term fate rests on its ability to hold the $75 support and reclaim higher levels. Until the $82–$94 region is decisively retaken, rebounds may remain limited.
