Solana (SOL) Price Analysis: Momentum Weakens as Price Holds Near $184

Solana is currently trading around $184 and is moving sideways on the lower timeframes. August has so far been a positive month for Solana, with the price rallying to $209 after experiencing a sell-off in July. At present, the market looks steady, but momentum appears to be fading as the short-term trend is beginning to lean downward. With this in mind, it is worth examining the latest price charts to see where Solana could be heading in the coming days.

Key Takeaways

• Solana is trading near $184 after repeated rejection at the $195-$197 resistance zone.
• Key support levels to watch are $176 and $167 if selling pressure continues in the short term.

Analyzing the Charts

On the 4-hour chart, Solana is trading just below the resistance zone near $195 and is struggling to break above it. Although the price briefly pushed past this level earlier in August, reaching as high as $209, the momentum quickly faded. Since then, the $195 region has re-emerged as a strong barrier that continues to hold back further upside.

Another key development on the chart is the trendline support that Solana had been respecting throughout August. That support has now been broken after the price faced two consecutive rejections at the $195 level. This breakdown signals weakness in the structure and suggests that Solana could be heading lower, with a short-term correction likely to follow.

With momentum shifting, the first support level to watch for Solana is around $176. This level is significant because it has acted as both support and resistance in the past, making it a key area for bulls to defend. If buyers fail to hold $176, the next immediate support lies at $167, where the price could attempt to stabilize in the event of a deeper correction.

With Bitcoin losing momentum and the broader market struggling to gain strength, Solana is also likely to face a period of correction or consolidation. The price may need to cool off and establish stronger support before attempting another move toward higher targets.

Final Takeaway: What is Next for Solana (SOL)?

Solana is currently trading around $184 and showing signs of sideways movement. The price has faced repeated rejection near $195, while the loss of trendline-support points toward short-term weakness. For now, $176 remains the key support level to watch, with $167 as the next line of defense if selling pressure increases. Based on this structure, the short-term Solana price prediction leans toward correction or consolidation before the market attempts another push toward higher levels.