Key Insights:
- •Solana breaks key trendline, testing $182 support as price struggles to regain momentum.
- •RSI oversold, MACD weak—short-term relief possible if volume picks up at support zone.
- •Drop to $170 possible if $180 fails, but $150–$160 remains a major long-term demand area.
Solana (SOL) has dropped sharply after failing to stay above the $253 mark. On the 4-hour chart, the price faced rejection at that level before falling below $190 and now trades around $182.84. The drop was fast, with selling pressure pushing the price near $180 before a small bounce.
This area around $182 has been tested before. It's now acting as a key level, with price trying to stabilize. So far, the recovery attempts have been weak, with low volume and no strong bullish momentum.
Break of Trend Channel Signals Change
On the daily chart, Solana has broken below a rising channel that had held since April 2025. The price moved under the lower trendline near $190, showing the first real shakeout in months. The breakdown was followed by a quick drop toward $150 before bouncing back.
The zone between $150 and $160 now stands out as a major demand area. It supported the last big move up and may act as a reload point if current levels don’t hold. A clean bounce from this range could open the way toward $220–$240 again. If not, sellers could push it closer to $170.
Short-Term Pressure Still Visible
The 1-hour chart shows Solana trading below the 5, 10, and 20-period moving averages, confirming short-term pressure. All moving averages are pointing down, and price action hasn’t been able to recover above them.
The RSI is sitting near 30, showing that the asset is oversold. There’s a small bullish divergence forming, but it's too early to confirm any reversal. The MACD remains below the signal line, though the histogram is starting to shrink.
One trader noted,
“If SOL can hold above $180 and volume kicks in, a bounce to $190 could follow.”
Key Levels in Focus
Support now sits at $180. If that breaks, the next level to watch is $170. Resistance is around $190, and a move above that could signal short-term relief. Until then, caution remains, as price action is still under seller control.
With trading volume slowing down, markets may be waiting for the next move. Whether Solana rebounds or dips further, price movement around $180 will be key.