Solana Price Drops Below $185, Bears Target $172 Support
Solana price dropped sharply after failing to clear the $210 resistance level. The altcoin fell below key supports at $200 and $188, breaching the 100-hour simple moving average and forming a bearish trend line at $188. Solana price now trades around $185, with major resistance at $182 and $188. A daily close above $188 could spark a recovery toward $192 and $200. On the downside, initial support is at $175, followed by $172, $162 and $150 if bears remain in control. Technical indicators show the MACD deep in bearish territory and the RSI below 50, suggesting further downside risk. Traders should watch for a clear breakout above the $188 zone to confirm bullish momentum.
Bearish
Solana’s inability to break the $210–$188 resistance and its breach of key support levels indicates a bearish outlook. In past instances, such as the June pullback, extended declines followed similar trend-line breaks and MACD crossovers. The ongoing decline below the 100-hour SMA and RSI under 50 suggests momentum remains negative. Short-term traders may target the $172 and $162 zones, aligning stop-loss orders below $175. However, if SOL manages a decisive close above $188 and reclaims the 100-hour SMA, bearish pressure could ease, potentially shifting sentiment toward the $200 mark. For long-term holders, this correction may offer a buying opportunity near strong support. Overall, the technical setup points to further downside risk in the near term, making this a bearish signal for traders.