$SOL The information presented in this analysis is based on data relevant as of mid-August 2025. Cryptocurrency prices are extremely volatile and can change rapidly. This analysis is not financial advice.
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Brief overview
At the moment, Solana (SOL) is in a consolidation phase following a recent decline. Despite the correction, the overall market sentiment remains bullish in the medium-term. The price is trading within an upward channel, and key indicators suggest a possible struggle between bulls and bears.
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Key technical indicators
* Current price:
~$174 - $175 (as of mid-August 2025). A decrease of 5-6% has been observed in the last 24 hours.
* Support:
The nearest support levels are in the range of $170 and $150. The $170 level is critical as it has been tested and held multiple times. A break below $170 could lead to a drop to $150.
* Resistance:
The nearest resistance is in the range of $180, $187, $195, and $206. Overcoming the $187 level with strong volume could open the way to the next levels.
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* Indicators:
* RSI (Relative Strength Index):
It is in the neutral zone, indicating the absence of overbought or oversold conditions. This creates room for further movement.
* Moving averages (MA):
The price is above the 50-day and 200-day moving averages, which is a strong bullish signal. The formation of a "golden cross" (the crossing of the 50-day MA above the 200-day MA) indicates the beginning of a sustainable upward trend.
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Forecast for the short-term and medium-term outlook
* Bullish scenario:
If Solana can hold above the support level of $170 and break through resistance in the range of $180-$187, this could serve as a trigger for a new rally. In this case, the next targets could be $195, $206, and even $215. Some analysts predict that if the positive trend continues, SOL could reach $258 by the end of the year.
* Bearish scenario:
If the price breaks the key support level of $170, further decline to $150 may be possible. A consolidation below this level could indicate a trend reversal to bearish and lead to a deeper correction.
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Factors affecting the price
* Overall market:
The state of the entire cryptocurrency market, and especially Bitcoin, significantly impacts Solana.
* Ecosystem development:
Activity and growth of projects built on the Solana blockchain, as well as their adoption, are important factors.
* Institutional interest:
News about major institutional investors and discussions about a possible ETF on Solana could act as a catalyst for growth.
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Conclusion
Technical analysis of Solana shows that the asset is at a crossroads. Despite the recent correction, the overall technical outlook remains optimistic in the medium-term.
Holding key support levels and overcoming resistance will be crucial for further price movement. Investors and traders should closely monitor price behavior around these levels.
