NewsBTC
Aug 21, 2025
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Solana Price Recovers Above $182 Amid Resistance at $188

Solana Price Analysis

  • SOL price is recovering after testing the $175 zone against the US Dollar.
  • Current trading is above $182 and the 100-hourly simple moving average.
  • A break occurred above a bearish trend line at $183 on the hourly chart for SOL/USD.
  • Price could increase further if it surpasses the $188 resistance level.

Recent Performance

  • Solana extended losses after closing below $188, entering a bearish zone below $185 and $180.
  • Price formed a low at $175, then surpassed $180 and $182 resistance levels.
  • Exceeds the 23.6% Fib retracement level from the $210 high to the $175 low.
  • Resistance near $188; next major resistance is at $192 or 50% Fib retracement level.
  • A successful close above $195 could lead to a steady increase towards $200 and $210.

Potential Decline

  • If SOL does not rise above $188, it may decline further.
  • Initial support is around $184; major support at $180.
  • A break below $180 may lead to a drop towards the $175 support zone.
  • Closing below $175 could push the price down to $166.

Technical Indicators

  • Hourly MACD indicates bullish momentum.
  • RSI for SOL/USD is above the 50 level.
  • Major support levels are $180 and $175.
  • Major resistance levels are $188 and $192.