Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Solana price retreats near $180 as technicals flag caution

Solana price retreats near $180 as technicals flag caution

Crypto.NewsCrypto.News2025/10/16 16:00
By:By Grace AbidemiEdited by Ankish Jain

Solana price is showing signs of weakness as clouds return to its short-term outlook, with the token drifting closer to a key support level.

Summary
  • SOL has dropped to $181, down over 6% on the day and more than 17% this week, as bearish momentum strengthens and sellers dominate the market.
  • Technical indicators flash caution, with the RSI near 39 and key moving averages tightening, suggesting further downside if support fails to hold.
  • A rebound could hinge on institutional demand and optimism around potential Solana-based ETF approvals, which have previously driven major recoveries in SOL’s price.

Solana price is currently trading at $181, shedding over 6% in the past 24 hours and down more than 17% for the week. After rallying above $220 just over a week ago, the token has since tumbled on successive sessions of selling, reversing momentum built up at the start of the month.​

The sharp decline comes as bearish momentum strengthens on the charts. Solana ( SOL ) began its current slide after failing to reclaim the $210 threshold, with back-to-back red daily candles marking growing pressure from sellers. Technical signals point to a market unable to absorb recent high-volume liquidations, forcing the token down to test lower support. 

Solana’s retreat is part of a broader downturn in the crypto market, mirroring losses seen across top altcoins and following renewed weakness in Bitcoin and Ethereum. The parallel drawdown echoes last week’s major Friday selloff, which wiped more than 20% off Solana’s market value in hours and brought the token as low as $168.

For now, bears are firmly in control as Solana price hovers at these critical levels. With volatility still high and no clear catalyst for a reversal, the question is whether current support can hold or if a deeper drop is imminent. 

Technical signals hint at further downside as Solana price tests key support

Looking ahead, technical signals point to caution. SOL’s Relative Strength Index (RSI) is near oversold territory, printing around 39 on the daily chart, which signals weakening momentum with the risk of further downside if selling persists. 

The 20-day and 100-day moving averages are converging, with price now sitting just above the longer-term 200-day average. If Solana breaks $180, the next support lies near $168, last week’s crash low, and potentially $150 if the broader market continues to unwind.​

Solana price retreats near $180 as technicals flag caution image 0 Solana daily price chart | Source: TradingView  

A bullish reversal would require a sustained defense of the $180 level, followed by a decisive move back above the 100-day average to rebuild confidence. Positive triggers could come from renewed corporate accumulation or from an upswing in optimism around anticipated Solana-based ETF launches.

Both institutional accumulation and regulatory progress have historically triggered sharp recoveries in Solana’s price. Without these drivers, however, the risk of further losses remains. 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!