Solana Price Steadies Near $167: Is It The Perfect Buying Opportunity?
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The post Solana Price Steadies Near $167: Is It The Perfect Buying Opportunity? appeared first on Coinpedia Fintech News The Solana price has efficiently bounced nearly 8% in early August after a sharp 25% decline from July highs. This rebound comes as key technical levels hold and sentiment flips bullish, despite macroeconomic concerns. The renewed interest is being supported by rising active addresses, funding rate data, and a crucial trendline support bounce on the daily chart. Solana Price Today: Recovery Gathers Momentum After Sharp Correction After reaching a July peak of $206, the Solana price saw a swift correction, mainly from profit booking, shedding over 25% to reach lows near $155. However, a quick reversal followed, where altcoin surged nearly 8% in early August. When writing, the Solana price today is exchanging hands at around $167. This recovery is backed by an improving market sentiment and positive fundamentals. One of the biggest sentiment drivers came from the announcement of Solana’s Seekers Mobile initiative on Monday, which seems to have turned bearish outlooks into renewed bullish expectations. This optimism is further echoed in Solana’s derivatives data, too. Derivatives & On-Chain Metrics Confirm Bullish Shift More closely looking at the CoinGlass platform, it revealed that the OI-Weighted Funding Rate flipped positive on Tuesday. This clearly showed an important key signal representing bullish positioning rising among futures traders. This aligns with increasing 24-hour active addresses shown in Santiment data, reflecting growing user interest. Moreover, Total Value Locked (TVL) on the DefiLlama platform has started trending upward and amounted to $9.84 billion currently. SOL Price Chart Shows Technical Breakout Potential Technically, the SOL price today is attempting to reclaim critical EMAs. The asset has already breached the 50-day Exponential Moving Average and is now approaching the 20-day EMA band. This move higher is notably occurring…
Filed under: News - @ August 5, 2025 5:31 pm