Solana Price Slides Below $185 as Bearish Pressure Builds and ETF Hopes Fade
Solana (SOL) is showing renewed weakness, with the token dropping to $181 — down more than 6% in the past 24 hours and 17% over the past week — as sellers regain control of the market.
The latest pullback comes after Solana failed to reclaim the $210 resistance level, triggering a wave of profit-taking and liquidations. The token, which traded above $220 just last week, now hovers near a key support zone around $180.
Technical Indicators Signal Further Downside
Momentum indicators are flashing caution. Solana’s Relative Strength Index (RSI) has fallen to 39, nearing oversold territory, while the 20-day and 100-day moving averages are converging — a sign of tightening market conditions.
If the $180 support fails, analysts warn of a potential slide toward $168, last week’s crash low, and even $150 in the event of a broader market downturn.
Solana’s weakness mirrors declines across the crypto market, with Bitcoin and Ethereum also losing ground amid renewed macro uncertainty.
ETF Optimism and Institutional Demand Could Spur a Rebound
A rebound could depend on renewed institutional accumulation and optimism around potential Solana-based ETF approvals — catalysts that have historically triggered sharp recoveries.
However, without clear bullish drivers, downside risk remains elevated as Solana continues to test its lower support levels.
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