Solana News Today: Solana Holds Near $182 Amid Outflows and Key Support Test

Solana (SOL) has been exhibiting a structured price pattern characterized by higher lows within a defined trading channel, with the market now focusing on the $210 resistance zone as a potential breakout level. The price is currently consolidating between $180.47 and $195.10, with buyers consistently defending the lower boundary. On August 20, the price was trading at $181.61, reflecting a 0.6% intraday increase, down from a weekly peak above $210 in mid-August. The formation of higher lows indicates that buyers are still active, despite the overall consolidation phase [1].

The technical outlook highlights a descending triangle pattern after the breakdown from an earlier rising trendline in early August. The $180 support level has been repeatedly tested, and the convergence of key exponential moving averages (EMAs)—20-EMA, 50-EMA, 100-EMA, and 200-EMA—near $181.61 suggests a cluster of resistance layers for the bulls. To confirm a new uptrend, Solana must close decisively above $185, which would be a critical step before retesting the $210 level [1].

On the downside, key support levels are closely aligned at $180, $176, and $172, with further liquidity zones expected at $168 and $164. On the upside, resistance is currently in the $183–$185 range, followed by $190 and $196–$200. The momentum indicators reflect a cautious market, with repeated structural breaks indicating that sellers are currently in control. A breakdown below $180 would likely open the door to a retest of the $172 level [1].

On-chain data reveals increased bearish pressure. On August 20, $39.26 million in Solana tokens moved into exchanges, signaling renewed selling activity. This contrasts with earlier summer outflows, which had supported the rally. The return of inflows during a corrective phase typically suggests holders are preparing to sell or hedge. Historically, such movements have preceded further downward corrections or extended consolidation [1].

Investor sentiment has shifted from the confidence seen during the July rally, as Solana has lost the $210 level and the rising trendline. Traders are now closely watching the $180 level: if it holds, a relief rally toward $185 could be expected; a breakdown would likely open the path to $172 and below. The medium-term outlook remains within a broader uptrend from June, but unless outflows return and the price holds firm between $176 and $180, the recovery cycle may struggle to extend toward $200 in September. Persistent inflows combined with a break below $180 could indicate that the July rally was overextended, potentially leading to a deeper retracement toward the mid-150s [1].

Looking ahead, the base case for the next one to three sessions is a range-to-lower bias between $176 and $185. Relief rallies into the EMA cluster are expected to be faded unless supported by improved on-chain flows. A decisive close above $185 would improve the odds of a move toward $190, while failure at $180 would expose deeper support levels at $176 and $172, with $164 as the next critical area to watch [1].

Source: [1] Solana price steadies near $182 as traders weigh inflows ... (https://tradersunion.com/news/cryptocurrency-news/show/446206-solana-price-steadies/)