Solana Price Falls to $185 After Brief Surge Above $200
Solana's price fluctuated significantly this week, starting around $180 and peaking at $205 on August 14 before retracing back to the $180 level. A crypto analyst noted that this drop is linked to key price levels.
Key Insights on Solana's Price Movements
- The $188 level is identified as crucial for SOL's recent performance.
- The Fixed Range Volume Profile (FRVP) indicates high trading activity around the $150 region.
- The Value Area High (VAH) at $188 serves as a resistance zone where price stalls may occur.
- Recent struggles to maintain above the VAH suggest potential downward pressure.
Potential Outcomes if Downward Trend Continues
- The $170 - $179 range may provide support if SOL continues to decline.
- A shift in high-volume trading levels upward could bolster a bullish trend.
Currently, Solana's price sits just above $180, reflecting a nearly 5% decline in the past 24 hours, but remains up over 4% for the week according to CoinGecko data.
