Solana remains flat as seller pressure limits upside near key resistance

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Solana slips 0.62% today to $86.06

Highlights

Solana developers have proposed removing the durable nonces transaction feature to address vulnerabilities linked to a $270 million Drift protocol exploit.
Charles Schwab has expanded its crypto offering to enable eligible U.S. retail clients to trade Solana, with limited effect on current market activity.
SOL/USD trades below key moving averages with weak momentum and faces a projected range of $83.13 to $90.5 over the next two to three days.

Security overhaul and new access channels amid limited trading impact

Solana developers have put forward a proposal to retire the 'durable nonces' transaction feature after its involvement in a $270 million exploitation of the Drift protocol earlier this year, taking steps to address security vulnerabilities, according to CoinDesk. This move aims to enhance user and developer confidence in the platform by removing a proven attack vector but does not introduce immediate changes to demand or token circulation. Separately, Charles Schwab has broadened its Crypto trading offer to include Solana for eligible U.S. retail clients, as reported by Crypto, providing new entry channels for mainstream traders yet with limited observable impact on trading activity in the current muted environment.

Multiple moving average barriers cap momentum as signals stay neutral

SOL/USD is trading below the MA-20 and MA-50 on the hourly chart, and remains under the MA-200 on the daily timeframe, reflecting pressure across multiple horizons. The Ichimoku Kijun level at $86.6 marks immediate resistance. Among momentum signals, MACD is on a Sell signal, while ADX registers as Neutral. The oscillators—RSI, Stoch RSI, and CCI—all show neutral readings, confirming the lack of extreme buying or selling. Bull/Bear Power stands at -0.02, indicating mild intraday seller dominance, and the Awesome Oscillator remains Neutral, providing no directional bias.

Elevated downside risk persists as bullish breakout odds diminish

Over the next two to three trading days, the expected price range for SOL/USD is $83.13 to $90.5. The probability of an upward move is considered very low within this volatility band, while downside risk remains elevated. The baseline scenario anticipates prices remaining inside this range, though a decisive move above $86.6 could open the way for a test of higher levels. Conversely, a breach below $83.13 would likely accelerate further declines.

Anton Kharitonov, expert at Traders Union, believes Solana remains under pressure as technicals continue to signal weakness across key timeframes. He sees the proposal to retire 'durable nonces' as a necessary response to past exploits but not an immediate driver for market demand. Recent institutional moves, such as Charles Schwab adding Solana trading, have yet to translate into stronger price action. "Until SOL/USD reclaims the $86.6 resistance, I remain on the defensive and see further downside risk dominating the near-term outlook."

Previously it was reported that Formation plans to launch a tokenized securities venue on Solana, aiming to facilitate onchain capital markets under regulatory oversight. Recent developments on the Solana network and subdued trading dynamics suggest that, for now, attention should remain on the $86.6 resistance and the risk of further downside if $83.13 fails to hold.

Source of Data: SOL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.