Solana (SOL) under pressure: Could a drop below $170 hinder altcoins' momentum? A decrease below $170 could push SOL towards $153.99, or even $141. Explore bearish technical signals and price outlook for SOL.
Despite a growing institutional interest in Solana, technical indicators suggest short-term uncertainty for the second-largest blockchain by market capitalization.
Institutional investors are heavily accumulating Solana (SOL) in anticipation of a potential altcoin season. Nearly 65% of the total SOL supply is now staked, and network application revenues reached a yearly record of $1.2 billion in the first quarter of 2025.
However, technical signals have recently deteriorated, including:
If the support at $160 were to break, Solana could then drop to $153.99, or even $141. However, a return to bullish momentum would first see the price testing a resistance at $176.77, then aiming for $184.88, $187, or even beyond $190.
Currently, according to the MRC, Solana maintains its bullish momentum in 12H, with the critical support at $160. Solana could even target the range between $190 and $210 in the coming days. However, an increase in profit-taking above $180 could slow down this ascent.
Ultimately, while Solana is increasingly attracting institutional interest, current technical signals raise investor indecision. The next price direction will depend on SOL’s ability to hold its key support or initiate a meaningful rebound.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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