Solana price faced selling pressures on Thursday, July 16, 2026, amid observations of a correctional rally ahead of key resistance levels. This helped draw attention to whether the bulls would manage to defend the bounce back made in June or a deeper pullback in the near term.
As of writing, Solana (SOL) is currently trading at $76.60, showing a decline of 2.08% in the past day. The trading volume has also gone down by 9.8% and is currently standing at $1.92 billion. Over the last week, the coin price has decreased by 1.74%, according to CoinMarketCap.
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How Solana Price Could Fall Toward $48 Support
The Solana price decline kept traders focused on a key resistance zone. Analyst MCO Global highlighted that Solana remains in a corrective rally from its June low.
The analyst said the broader structure still looks like a bear market bounce. That outlook indicates that the move is not yet signaling a permanent shift in the trend.
Analysts indicated that the resistance area is between $82.26 and $94. As long as Solana price remains below that zone, the favorable scenario permits another, bigger dip.
In that case, the bull market focus will be the $48 to $43 zone. The analyst also held $32 in play on a potential further extension of the selling pressure.
A different view would require stronger confirmation. If it breaks above $82.26 to $94 on a clear 5-wave advance, then it increases the odds that the bear momentum is over.
EMA and MACD Data Show Weak Momentum
From a technical perspective, on the daily chart, the 20-day EMA is at $76.74, and the 50-day EMA is $76.71. This placed SOL slightly below both short-term levels. The setup showed that buyers had not gained clear near-term control.
The longer EMA structure also showed overhead pressure. The 100-day EMA stood at $80.84, while the 200-day EMA was higher at $94.59. The Solana price would have to break above these levels to reinforce its overall recovery outlook.
The MACD data also indicates weaker momentum. The MACD line is at 0.78 and the signal line at 1.13. The value of the histogram is -0.35. Bullish strength is fading in this set-up following a rebound from the June lows.
Why Solana’s RWA Market Shows Strong Network Activity
Solana’s price continued to be under pressure, but network data indicated sustained activity. Solana passed 300,000 RWA holders for the first time, making it the top blockchain for RWA holders, according to Solana Floor data.
Data from rwa.xyz showed 300,130 RWA holders on the network. The distributed value of Solana real-world assets is close to $3.32 billion.
The RWA value on Solana increased to about $3.62 billion in July. Solana currently holds more than 2,120 different categories of RWA tokens, showing broader use of tokenized assets.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
