Solana price retreats near $180 as technicals flag caution
Solana price is showing signs of weakness as clouds return to its short-term outlook, with the token drifting closer to a key support level.
- SOL has dropped to $181, down over 6% on the day and more than 17% this week, as bearish momentum strengthens and sellers dominate the market.
- Technical indicators flash caution, with the RSI near 39 and key moving averages tightening, suggesting further downside if support fails to hold.
- A rebound could hinge on institutional demand and optimism around potential Solana-based ETF approvals, which have previously driven major recoveries in SOL’s price.
Solana price is currently trading at $181, shedding over 6% in the past 24 hours and down more than 17% for the week. After rallying above $220 just over a week ago, the token has since tumbled on successive sessions of selling, reversing momentum built up at the start of the month.
The sharp decline comes as bearish momentum strengthens on the charts. Solana ( SOL ) began its current slide after failing to reclaim the $210 threshold, with back-to-back red daily candles marking growing pressure from sellers. Technical signals point to a market unable to absorb recent high-volume liquidations, forcing the token down to test lower support.
Solana’s retreat is part of a broader downturn in the crypto market, mirroring losses seen across top altcoins and following renewed weakness in Bitcoin and Ethereum. The parallel drawdown echoes last week’s major Friday selloff, which wiped more than 20% off Solana’s market value in hours and brought the token as low as $168.
For now, bears are firmly in control as Solana price hovers at these critical levels. With volatility still high and no clear catalyst for a reversal, the question is whether current support can hold or if a deeper drop is imminent.
Technical signals hint at further downside as Solana price tests key support
Looking ahead, technical signals point to caution. SOL’s Relative Strength Index (RSI) is near oversold territory, printing around 39 on the daily chart, which signals weakening momentum with the risk of further downside if selling persists.
The 20-day and 100-day moving averages are converging, with price now sitting just above the longer-term 200-day average. If Solana breaks $180, the next support lies near $168, last week’s crash low, and potentially $150 if the broader market continues to unwind.
Solana daily price chart | Source: TradingView
A bullish reversal would require a sustained defense of the $180 level, followed by a decisive move back above the 100-day average to rebuild confidence. Positive triggers could come from renewed corporate accumulation or from an upswing in optimism around anticipated Solana-based ETF launches.
Both institutional accumulation and regulatory progress have historically triggered sharp recoveries in Solana’s price. Without these drivers, however, the risk of further losses remains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mars Morning News | ZCash shielded pool assets reach 23% of total supply, network usage surges
The potential end of the U.S. government shutdown means the SEC and CFTC will resume crypto regulatory work. The SEC may prioritize support for tokenization businesses, while the CFTC plans to promote spot crypto trading. The Hello 402 contract has been exposed to risks of unlimited issuance and centralized manipulation. The probability of a Fed rate cut in December is 69.6%. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.

The Federal Reserve pours cold water, December rate cut expectations plummet!
San Francisco Federal Reserve President Daly, who has consistently supported interest rate cuts, also sent a cautious signal on Thursday. Market expectations have quickly reversed, with short-term interest rate futures now showing only a 55% probability of a Fed rate cut in December...

Has sector rotation in the crypto market really failed?
With BTC maturing first, ETH lagging behind, and SOL still needing time, where are we in the cycle?

Prospects of Ethereum Protocol Technical Upgrade (1): The Merge
This article will interpret the first part of the roadmap (The Merge), explore what technical design improvements can still be made to PoS (Proof of Stake), and discuss ways to implement these improvements.

