TLDR
- Solana has dropped over 25% from its July peak of $206, now trading around $162
- Key support zones identified at $160, $140-$136, and $120
- Reaccumulation interest spotted near $136-$148 range from institutional buyers
- Short-term targets between $172-$175 with strong resistance at $180-$185
- Despite near-term weakness, experts predict potential return to $200-$300 by late 2025
Solana has experienced a significant downturn after reaching impressive heights last month. Currently trading at $162, SOL has fallen more than 25% from its July peak of $206, wiping out a large portion of recent gains. The drop has reduced Solana’s market cap to approximately $90 billion.
The decline comes after a strong July performance when Solana reached the $200 mark, driven by increased developer demand and new institutional interest. However, profit-taking and overall market uncertainty have erased much of these advances.
Analysts now see the coin slipping back into what they term a “value zone” where long-term investors typically place their bets.
Trading expert Autumn Riley has identified the $136-$148 range as a potential reaccumulation point. This area has historically attracted strong institutional buying interest, which could signal an opportunity for investors with a long-term outlook.
#Solana is down over 25% from the $206 level, but this might just be the setup smart money waits for.
It’s now entering a high-interest area: $136–$148.
Patience here could pay off big. pic.twitter.com/cEC0RTgOKp
— Autumn Riley (@Autumn_Rileyy) August 3, 2025
Models from Perplexity AI suggest SOL might stabilize in the $162-$165 range throughout most of August. A possible near-term rally to $172-$175 could develop if trading volume increases and market sentiment improves.
Technical Analysis Points to Consolidation
Currently, SOL is oscillating around a demand spot with technical indicators showing mixed signals. Both RSI and MACD indicators remain in neutral territory, suggesting either a potential rebound or continued selling pressure depending on upcoming catalysts.
The cryptocurrency has formed a bullish trend line with support at $165 on the hourly chart. SOL is now trading above both $162 and the 100-hour simple moving average, which some technical analysts view as a positive sign.
On the upside, SOL faces resistance near the $170 level, followed by a more substantial barrier at $172. Breaking above these levels could open the path toward $180, which represents a major resistance zone.
If SOL successfully clears the $180 resistance, it could trigger another steady increase toward the $192 level and potentially beyond.
Key Support and Resistance Levels
Several critical support zones have been identified that could determine SOL’s price trajectory in the coming weeks. These include $160, $140-$136, and $120, with the latter considered a strong support point.
If bearish momentum continues and SOL fails to hold support at $160, a drop to $140 appears likely. Many experts believe this level would attract “smart money” accumulation. However, if the price falls to $136, the pullback could extend to $120.
On the resistance side, the key levels to watch are $172, $180-$185, and the psychological $200 mark. Only a convergence of positive catalysts – such as favorable macroeconomic data or increasing decentralized application usage – would likely propel SOL back to its recent highs.
Despite the current downtrend, Solana’s long-term fundamentals remain strong. Many market observers predict that the asset could return to the $200-$300 range later in 2025, provided there is continued growth in network usage, developer engagement, and institutional investment.
Some of the more optimistic forecasts suggest SOL could reach as high as $500, though such projections depend heavily on positive market conditions and broader cryptocurrency adoption.
For now, SOL’s price action will be largely dictated by institutional flows, macroeconomic trends, developer activity, and on-chain data. The coming weeks will be crucial in determining whether Solana can regain its upward momentum or if further correction is in store.
