🔍 Solana Market Update — August 5, 2025

🚨 Short-Term Outlook: Caution Ahead

Solana is testing a critical support zone around $160–$169, recently dipping ~6.5% in 24 hours and down ~25% from its July high of ~$206 .

Technical patterns like a cup‑and‑handle suggest a drop toward $140–$150 before potential recovery .

Analysts estimate near-term trading in the range of $155–$175, with breakdown risks if support fails .

🏦 Institutional and Whale Activity

Investors are accumulating: >$23 M worth of SOL was withdrawn from exchanges in July, with over 60% staked, signaling long-term positioning .

Top firms (Franklin Templeton, Grayscale, Fidelity) are filing Solana ETF registrations — potentially directing billions into SOL by 2026 .

BIT Mining Ltd.’s pivot to build a treasury of Solana tokens has doubled its U.S. share price .

are you Holder of $SOL coin let me know in the comments 👇😊