Solana's price declines from the $204 peak, maintaining a stable position above the significant $175 support level.
In the cryptocurrency market, Solana (SOL) has been a standout performer, surging nearly 28% from $160 to a peak of $204.98 during a recent surge. However, the digital asset is currently trading near $185, with a drop in bullish volume at this level.
The current outlook for Solana shows consolidation around key technical levels with a critical demand zone approximately between $170-175 serving as a strong support area. This zone is technically significant because it overlaps with crucial Fibonacci retracement levels and demand from prior liquidity zones.
Recent analyses have highlighted that after breaking resistance near $160, Solana consolidated near $203 by late July 2025, demonstrating strength following accumulation by large buyers. The demand area between $170-175 is part of a broader support confluence near $150–$175, including symmetrical triangle patterns and strong Fibonacci retracement regions.
Price behavior around $170-175 is critical since it acts as a cushion to sustain bullish momentum toward higher targets, with technical analysts expecting breakouts above triangle resistance near $150-153 to propel the price into the $200+ zone. Relative Strength Index (RSI) readings are near neutral, indicating equilibrium between bulls and bears, reinforcing this zone's importance as a battleground for control.
Broader fundamental catalysts include growing DeFi, NFTs, and Layer 1 adoption on Solana, plus increased institutional interest (e.g., ETFs), supporting the bullish long-term perspective targeting $600-$700 by Q4 2025.
However, short-term pressure is indicated by the chart printing small bearish candles. The pullback in Solana's price was triggered by a top wick rejection at the $200-205 resistance zone. A bounce from the $170-175 range could restart bullish momentum for Solana. If the support at the $170-175 range fails, Solana could shift into a bearish short-term pattern.
BitGuru believes buyers will likely defend the $170-175 range if prices fall further. The surge was triggered by a strong reversal pattern, specifically an inverse head and shoulders pattern. The $170-175 range could shape the next big move for Solana's price action. The recent activity confirms heightened investor interest around the $200 breakout.
As of now, Solana is trading at $189.48, posting a 0.08% gain in the last 24 hours. The price of Solana is currently consolidating near $185. The $170-175 zone remains a critical area to watch for potential support for Solana, with a breakdown from this zone potentially shifting sentiment for Solana bearish.
- The current consolidation around the key technical level of $170-175 in Solana's price action is significant as it coincides with crucial Fibonacci retracement levels and demand from prior liquidity zones, potentially serving as a strong support area.
- The critical zone between $170-175 in Solana's price is currently acting as a cushion to sustain bullish momentum, with technical analysts expecting breakouts above the symmetrical triangle resistance near $150-153 to push the price into the $200+ zone, reinforcing the importance of this area in the price behavior.
