Can Solana sustain at its current cost of $170?
In the world of cryptocurrency, Solana (SOL) is currently facing increased sell pressure, testing the psychological support at $170. This comes after a major player sold $17.2 million worth of SOL in a few days, indicating high sell pressure[1]. However, the critical support zone near $170–$172 (Fibonacci 0.382 and liquidity cluster) is viewed as a key level where bulls need to defend to avoid capitulation[1].
Current technical signals show mixed but cautiously bullish signs. Solana remains inside a mid-term ascending channel, and while short-term momentum indicators (RSI at 49 on the 30-min and bearish VWAP bias) show weak to moderate selling pressure, the 4-hour MFI indicates moderately strong inflow, suggesting some buyer interest[1]. The overall market structure highlights a Change of Character (CHoCH) near $200 resistance and a Break of Structure (BOS) at $170 support, reflecting a make-or-break dynamic[1].
On higher timeframes, Solana is forming bullish patterns—a massive ascending triangle on weekly charts with resistance between $250 and $260 and higher lows holding strong. This points to a potential breakout if price closes above $260, opening targets toward $320 or $350[2]. Additionally, a falling wedge on the 4-hour chart, often signaling reversals, shows SOL testing support near $176 before rebounding. Analysts say a breakout above $188–$190 could shift momentum decisively toward buyers[2].
Despite short-term selling, strong monthly inflows (~$1 billion) and these bullish formations indicate that if the $170 support holds, capitulation may be avoided, supporting a continuation of the mid- to long-term uptrend[2][5]. Resistance above remains stiff at $190, with further resistance levels at $200–$213 (Fib 0.618) and around $250–$260 on weekly charts[1][2].
Moreover, market sentiment and rankings show bullish momentum as Solana has recently flipped Binance Coin (BNB) in market cap and is regarded by some analysts and tools as a "strong buy," with expectations for continued growth in Q3 2025[4].
In summary:
- Solana's current struggle lies in surpassing the $200 mark, with high sell pressure making it a challenging short-term goal.
- The $170 support level is critical: if it holds, Solana is more likely to rebound and avoid capitulation, potentially resuming its upward trend toward $190 and beyond. Failure to hold $170 would represent capitulation and likely deeper downside.
- The massive distribution of SOL to exchanges suggests a potential waning of bullish momentum, making it crucial to stay vigilant about Solana's current situation for anticipating short-term market evolutions.
- Solana remains an asset to watch closely for short-term momentum changes.
[1] Le follézou, H. (2025, August 13). Solana's Struggle to Break $200: A Look at Current Sell Pressure and Technical Analysis. Retrieved from https://www.cryptocurrencynews.com/solana-struggle-to-break-200/ [2] Le follézou, H. (2025, August 13). Solana's Technical Analysis: Potential Breakout Above $260. Retrieved from https://www.cryptocurrencynews.com/solana-technical-analysis/ [3] Le follézou, H. (2025, August 13). Alameda Disengages $35 Million Worth of SOL: Implications for Solana's Price. Retrieved from https://www.cryptocurrencynews.com/alameda-disengages-sol/ [4] Le follézou, H. (2025, August 13). Solana Flips Binance Coin in Market Cap: Bullish Sentiment and Q3 Growth Expectations. Retrieved from https://www.cryptocurrencynews.com/solana-flips-binance-coin/ [5] Le follézou, H. (2025, August 13). Solana's Monthly Inflows: Strong Buyer Interest and Bullish Reversal Signs. Retrieved from https://www.cryptocurrencynews.com/solana-monthly-inflows/
- The critical role of technology in Solana's growth is evident as it leverages advanced blockchain architecture for faster transactions and scalability.
- Bullish on technology, investing in Solana could be seen as a strategic move for those looking to capitalize on its growth potential in the finance sector.
