Solana (SOL) Price Analysis: Strong Support at $170, What Next?

The post Solana (SOL) Price Analysis: Strong Support at $170, What Next? appeared first on Coinpedia Fintech News

Solana continues to gain ground in the blockchain and financial ecosystem, thanks to high-impact developments. Firstly, SOL Strategies’ ambitious $1 billion prospectus and $500 million At-the-Will (ATW) facility provide significant institutional backing, with the potential inclusion of tokenized shares further working on the line between traditional finance and crypto. 

Secondly, MetaMask’s expanded support for Solana significantly lowers entry barriers, enhancing usability through fast and low-cost transactions. Finally, RedStone’s integration introduces robust RWA data into Solana’s DeFi scene, opening new doors for diversified investment strategies. Amid these bullish fundamentals, wondering how Solana will perform on its charts? This SOL price analysis gives you the short-term targets!

SOL Price Analysis

At the time of press, Solana is trading at $172.42, with a minor 0.82% dip over the last 24 hours and a 3.58% decline over the past week. Despite the short-term pullback, SOL remains up 16.05% over the past month, reflecting a resilient uptrend on the broader time frame. With a market capitalization of $89.79 billion and a 24-hour trading volume of $3.66 billion, investors remain actively engaged.

On the chart, SOL has found a strong grip at the $168–$170 support zone. It has bounced back decisively and reclaimed the key level of $172.50, which now aligns with the 9-period SMA. The Immediate resistance lies at $178.50, a break and close above this zone could open the door for a rally toward the $185–$190 range. 

Contrarily, traders should monitor $167.50 as a crucial stop-loss level. A breakdown below this could invalidate the bullish thesis and trigger a deeper retracement toward the $160 range.

Also read our Solana (SOL) Price Prediction 2025, 2026-2030 for long-term targets!

FAQs