Solana Faces Key Support Test Could Drop Further Toward $170

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What to Know

  • “The red line in the channel has been a good guide to sips in 2025,” he stated.
  • In the meantime, another well-known analyst, BitGuru, pointed out that SOL was under huge pressure once it could not sustain above $253.
  • Sentiment data indicates 85% of 799.3K votes are positive, indicating high confidence in market expansion.
Solana
  • Solana (SOL) is approaching crucial support levels, and the market could either see a rebound or continue declining further.
  • Historical trend channel lows for SOL have repeatedly acted as potential buying opportunities for investors.
  • The inability to sustain above $253 increases the risk of SOL dropping down toward $170 soon.

Solana (SOL) has recently pulled back, drawing near crucial support areas. Analysts note that corrections close to the trend channel may provide entry points. The market is showing limited strength, and both a reversal and a further decline are possible.

At the time of writing, Solana (SOL) is trading at $183, with a 24-hour trading volume of $44.64 billion and a market capitalization of $100.42 billion. The coin has experienced a notable decline, dropping 12.68% over the past 24 hours.

Source: CoinMarketCap

Solana Trend Channel Lows Signal Buying

Crypto analyst Master Kenobi observed that throughout history, each time SOL hit the lower end of its trend channel this year, it meant there was a possible buying opportunity. “The red line in the channel has been a good guide to sips in 2025,” he stated.

Source: X

Solana Faces Pressure Amid Market Volatility

In the meantime, another well-known analyst, BitGuru, pointed out that SOL was under huge pressure once it could not sustain above $253. Now, the token is testing support around $182.

Source: X

As per BitGuru, the market tries to calm down, but the correction remains weakening. A rally from this region may suggest a possible rebound, but a drop below may force the price towards $170.

Investors are warned to maintain a sharp eye since volatility levels are still high, and the prices may still fluctuate in the short term.

Also Read | Solana Set for Explosive Comeback, Eyes Remarkable $260 Milestone Soon

Community Shows Strong Optimism

Sentiment data indicates 85% of 799.3K votes are positive, indicating high confidence in market expansion. Investors seem optimistic about near-side prices and general market trends. This majority indicates good momentum and strong investor sentiment.

Source: CoinMarketCap

On the other hand, just 15% of the votes are bearish, registering little worry about possible declines. Low bearish demonstrates firm confidence despite fluctuating markets. On a general note, sentiment strongly favors further upside activity.

Also Read | XRP Eyes Comeback as SEC Filing Aligns With Bullish October Pattern

Zagham Abbas

Zagham Abbas

Zagham Abbas is a Blockchain Infrastructure Reporter at Tron Weekly with over five years of experience covering cryptocurrency markets, blockchain infrastructure, and digital asset regulation. His reporting focuses on core blockchain networks, protocol-level developments, decentralized finance ecosystems, and major assets such as Bitcoin, Ethereum, and altcoins.
Zagham covers network upgrades, protocol changes, scalability developments, security incidents, and ecosystem adoption across leading blockchain platforms. He also provides market analysis, explaining how infrastructure updates and regulatory actions impact digital asset markets. His work delivers clear, fact-based reporting for both beginners and experienced readers. He holds a Bachelor of Arts degree and follows strict editorial and fact-checking standards at Tron Weekly.

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