Solana surged to around $206 in July, but over the past few weeks, it’s pulled back into the $160–$180 zone. So, what’s behind the dip?
🔹 Network Activity Slowing – There’s been a noticeable drop in daily usage, suggesting that user engagement has taken a hit.
🔹 Profit-Taking Phase – After that strong rally, many early buyers decided it was time to cash out and lock in gains.
🔹 Market-Wide Weakness – Broader crypto sentiment has been shaky, with macroeconomic concerns and reduced retail interest adding to the pressure.
That said, $SOL
SOL has found solid support in this range before. If it manages to climb back above key EMAs—especially the 20-day and 50-day—we could see bullish momentum return, with $185–$200 as the next likely resistance zone.