Solana Faces Pressure as $180 Support Breaks 😬
After a turbulent week, Solana (SOL) is trading around $186, down 4.37% as bearish sentiment takes hold. Since May 2025, SOL has moved within a steady rising channel, but it’s now testing the lower boundary near $180—a key support level that also aligns with the 200-day simple moving average.
On-chain data from Glassnode shows that about 24.5 million SOL were purchased around this zone, suggesting strong demand that could limit further downside if the level holds. Maintaining support above $180 could keep Solana’s upward trend intact, potentially setting up targets near $230 and $290.
However, if selling pressure pushes SOL below $180, the next major supports sit near $115 and $50, representing possible drops of up to 72% from current prices.
In the past 24 hours, Solana has rebounded 4.57% to $185, but its monthly performance remains weak with a 14.27% decline.
This week also marked a major step for Solana’s institutional adoption. Bitwise launched the first Solana Spot ETF on the NYSE, followed by Grayscale’s Solana Trust. Together, these funds have attracted $154.73 million in net inflows and now hold $439.97 million in assets after just three days of trading, according to SoSoValue. Additional Solana ETFs from Canary, VanEck, and CoinShares are awaiting SEC approval.
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