Solana Tests $182 Support — Rebound or Breakdown Ahead?

Andrew Chen
Solana

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  • Solana drops 12.6%, testing key $182 support zone.
  • Analysts highlight potential rebound if the trend channel holds.
  • Investor sentiment remains 85% bullish despite market weakness.

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Solana (SOL) has faced renewed selling pressure, slipping 12.68% over the past 24 hours to trade near $183. The sharp drop comes as broader crypto markets show limited strength, keeping traders on edge about whether a deeper correction or a short-term recovery is next. With a market capitalization of $100.42 billion and trading volume above $44 billion, SOL remains one of the most actively traded altcoins despite the volatility.

Analysts Identify Potential Buy Zone Near Trend Channel Lows

Crypto analyst Master Kenobi noted that historically, when Solana approached the lower end of its trend channel, it often presented a strong entry opportunity. “The red line in the channel has been a good guide to dips in 2025,” he said, suggesting current price levels could attract buyers once again.

Still, another analyst, BitGuru, highlighted that failure to hold above $253 has placed SOL under “huge pressure.” The token now hovers around $182 — a critical support zone. A decisive break below could send prices toward $170, while a successful defense may trigger a rebound.

Source: X

Market Sentiment Stays Positive Despite the Pullback

Despite the steep drop, community sentiment remains notably optimistic. According to CoinMarketCap data, 85% of over 799,000 votes on Solana’s outlook are bullish. Only 15% express bearish expectations, signaling continued investor confidence in Solana’s long-term potential even amid short-term turbulence.

Also Read: Bitwise Solana Staking ETF: Low-Fee 0.20% Fund Set to Attract Early Investors

This optimism, analysts say, could help stabilize the market if buying pressure returns around the lower trend levels.

Outlook: Correction or Launchpad for Recovery?

Solana’s current correction phase appears to be testing investor conviction. While technical indicators suggest a possible rebound from current levels, traders are urged to stay cautious given the market’s elevated volatility. Whether SOL stabilizes above $182 or slips further could determine its next major move toward either $170 or a recovery beyond $200.

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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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