- Solana price fell to around $181 after failing to break above the key $200 resistance, with momentum weakening and significant outflows hitting exchanges.
- If SOL can’t hold support near $172 and $162, further declines may follow, but a strong close above $200 could renew bullish momentum.
Solana (SOL) is facing a setback after its recent price rally stalled just below the crucial $200 resistance level. Trading near $181 on July 24, SOL dropped nearly 3% in 24 hours, signaling growing caution among investors. This price action follows a failed attempt to surpass $200—a barrier that has repeatedly capped Solana’s upward moves.
Solana Key Price Levels and Fading Strength
Solana’s price had rebounded strongly from June lows and climbed above all major exponential moving averages (EMAs), including the 20, 50, 100, and 200-day lines clustered between $160 and $172. These EMAs have served as vital support during the rally. However, the daily Relative Strength Index (RSI) has cooled to 59.32 after briefly entering overbought territory, indicating fading buying momentum. This loss of short-term strength makes it harder for SOL to sustain a breakout above the $200 mark.
Rising Outflows Signal Caution
On-chain data reveals a significant net outflow of $58.95 million on July 24—the largest single-day withdrawal for Solana this quarter. Such outflows typically indicate that traders are booking profits and pulling funds off exchanges, often leading to price consolidation or a correction phase. Alongside this, spot inflows have weakened above $190, reflecting limited buying interest at these levels.
Support Zones to Watch
If Solana fails to reclaim and close above $200–$205, the price may test key support near the 20-day EMA at around $172. Further weakness could push SOL toward the $162–$158 cluster, where moving averages could offer crucial trend support. Defending these levels is vital for preserving the recent bullish structure.
What Lies Ahead for Solana?
A decisive break and close above $200 would mark a structural shift in Solana’s trend, potentially paving the way for targets near $225 and $250. However, current market sentiment leans toward caution due to accelerating outflows and weakening momentum. Without renewed inflow and buying strength, the short-term outlook favors a pullback or sideways trading.
In summary, Solana’s recent retreat highlights the challenges bulls face in pushing past a stubborn resistance zone. The next few days will be critical to determine whether SOL can regain upward momentum or if it will consolidate near support before attempting another rally.
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