Solana News Today: Solana Price Nears $160 as 15% Weekly Loss Looms Amid Heavy Liquidations

Solana is under increasing downward pressure as its price inches closer to the critical $160 level, with the asset on track to close the week with a 15% decline from its $188 opening level [1]. The broader market has also shown signs of deleveraging, marked by a sharp red candle at the week’s end, signaling a potential shift in risk appetite among retail and institutional participants.

The recent volatility has been exacerbated by aggressive liquidations, particularly on the long side. On August 1, the market recorded $46 million in long liquidations — the largest single-day wipeout since the first quarter of the year [1]. This has been further amplified by the deliberate offloading of nearly 110,000 SOL by Binance to Wintermute, a move that appears strategically timed to capitalize on weak liquidity and flush out leveraged positions.

Retail exposure remains heavily skewed, with 91% net long Open Interest observed when the price was near $180. Despite the recent sell-off, perpetual funding rates still show a 78% dominance of long positions on Binance, highlighting the continued crowding on the bullish side [1]. This imbalance leaves the market vulnerable to further downward pressure unless strong spot demand emerges or Open Interest resets meaningfully.

Technically, Solana has breached a key realized price cluster, putting a large portion of investors in the red. The $140–$150 range has emerged as a critical area of realized price density, with many tokens last moved in this range, suggesting it could act as a reaccumulation zone for buyers [1]. A retest of this level appears increasingly likely, especially with compressed Open Interest and skewed funding rates still in place.

Market observers are now focused on whether $160 will serve as a psychological and technical floor or if a breakdown could lead to deeper losses. Given the current environment, which includes macro risk-off sentiment and regulatory uncertainties, the likelihood of continued downward pressure remains high unless risk appetite sees a decisive reversal [1].

Source:

[1] AMBCrypto, [https://ambcrypto.com/solana-realized-losses-mount-amid-160-comes-under-threat-what-now/](https://ambcrypto.com/solana-realized-losses-mount-amid-160-comes-under-threat-what-now/)

[2] Instagram, [https://www.instagram.com/p/DM03M6tqawY/](https://www.instagram.com/p/DM03M6tqawY/)