📉 Solana Faces Selling Pressure but Holds Above Key $159 Support

August 2, 2025 – Solana (SOL) is facing mild selling pressure in today’s trading session, with the price currently around $164.58 USDT, down -3.75% in the last 24 hours. Despite the dip from yesterday’s highs near $170, SOL remains above the important $159.20 support level, which recently triggered a short-term bounce.

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🔹 Market Snapshot:

Current Price: $164.58 USDT

24h High: $172.19

24h Low: $159.20

24h Volume: 3.58M SOL

🔍 What’s Happening:

The recent drop in SOL’s price follows broader market weakness, as Bitcoin’s consolidation around the $118,000 mark has slowed momentum in altcoins. However, Solana’s recovery from $159.20 shows that buyers are still active at lower levels.

📊 Technical View:

Support Zone: $159.00 – $160.00 USDT

Resistance Levels: $168.00 and $170.00 USDT

Trend: Short-term recovery but still below the 99 MA ($167.14), suggesting that bulls need more strength to flip the trend bullish.

💡 Community Watch:

Traders are keeping a close eye on the $168 resistance. A break above this could invite fresh buying, while holding above $159 is crucial to prevent further downside.

📢 Takeaway:

Solana’s resilience at $159 support shows that buyers are defending key levels despite market pressure. The next few sessions will decide whether SOL can regain $170 or face another pullback.

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