Solana (SOL) — Market Snapshot & Technical Outlook



Price Movements & Sentiment

Currently trading around $182 USD, reflecting a dip and recent consolidation.

Analysts note a sluggish rejection near $200, suggesting fading bullish momentum. Long-term holders appear to be taking profits, while new wallet addresses are dropping.

Solana previously dipped below key support levels like $184.13, though the network continues to show on-chain growth.

Binance’s 4H chart reveals a Rising Wedge pattern—typically bearish—implying potential weakness if support is breached.

Technical and On-Chain Indicators

Momentum indicators, including the MACD crossover and AO flip, are signaling a bearish trend.

Funding for Solana ETFs is building momentum, with futures-based products attracting over $1 billion in inflows. A possible spot ETF could catalyze renewed institutional interest.

Elliott Wave analysis suggests that if SOL holds above the $175–180 base, it could continue moving toward $260–$280 targets.$SOL #Gate July Transparency Report#
ETH-5.87%
SOL-7.31%
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