Solana (SOL) Price: This Pullback Could Be the Final Buying Opportunity Before $200
TLDR
SOL dropped 15.5% from $209.80 but is testing critical support around $175-178 golden pocket zone
Solana maintains second-largest DEX ecosystem position with $111.5 billion in 30-day trading volumes
Network generated $35.6 million in fees over 30 days, up 22% from previous month
SOL futures open interest climbed to $10.7 billion, up from $6.9 billion two months ago
Technical indicators show oversold RSI conditions suggesting potential relief bounce toward $200-210
Solana price has pulled back into a decisive support zone after reaching six-month highs. The native token dropped 15.5% since hitting $209.80 on Thursday.
SOL now trades near the golden pocket support area between $175-178. This zone aligns with the 0.618 Fibonacci retracement level that often acts as key support in trending markets.
Despite the recent pullback, Solana’s underlying fundamentals remain strong. The network has consolidated its position as the second-largest decentralized exchange ecosystem globally.
Solana recorded $111.5 billion in 30-day trading volumes across its DEX platforms. This performance outpaced the combined Ethereum layer-2 networks, which generated $93.1 billion in the same period.
Network Activity Shows Continued Growth
The total value locked on Solana reached $12.1 billion this week. This represents a 20% increase over two months and maintains its position ahead of BNB Chain at $7.8 billion.
Source: DefiLlama
Several major decentralized applications now exceed $2 billion in TVL each. These include Kamino, Jito, Jupiter, Sanctum, Raydium and Marinade.
Network fees provide another positive indicator for SOL demand. Solana generated $35.6 million in fees over the past 30 days, marking a 22% increase from the prior month.
This fee growth contrasts with Ethereum, which saw fees decline 7% to $41.4 million despite maintaining a larger smart contract deposit base. Solana’s advantage stems from its low fees and streamlined user experience.
The network ranks third in total fees generated, which is impressive given its smaller overall market capitalization compared to competitors.
Institutional Interest Continues Building
SOL futures open interest has climbed to $10.7 billion from $6.9 billion two months ago. This growth now exceeds XRP futures despite XRP having an 81% larger market capitalization.
Source: Coinglass
The increase signals growing institutional participation in Solana markets. Exchange-traded products tracking SOL have reached $2.8 billion in assets under management.
The 7.3% native staking yield could drive additional institutional demand once Solana spot ETFs launch in the United States. Bloomberg analysts project a 90% or greater likelihood of SEC approval by year-end.
Solana Price Prediction
Current price action shows Solana testing the golden pocket support zone around $175-178. The relative strength index has dropped into oversold territory in the mid-30s range.
$SOL coming into golden pocket pic.twitter.com/nCRW3VR7O3
— CRG (@MacroCRG) August 19, 2025
Historically, RSI readings at these levels often signal exhaustion of selling pressure. This technical setup suggests downside momentum may be fading as the market seeks equilibrium.
A descending trendline near $185-188 represents the immediate resistance level to watch. A successful break above this barrier could shift momentum back in favor of buyers.
Analysts point to the higher-low pattern remaining intact as long as $170 holds as support. A rebound from current levels would target $195 and $210 as near-term objectives.
The liquidation wave has cleared most highly leveraged long positions. This reset reduces the risk of cascading liquidations and allows for more organic price discovery.
SOL currently holds above the critical $170 support level that would validate the bullish structure. A successful defense of this area combined with oversold conditions creates conditions for a relief bounce toward the $200-210 range.
The post Solana (SOL) Price: This Pullback Could Be the Final Buying Opportunity Before $200 appeared first on CoinCentral.
Filed under: News - @ August 20, 2025 10:27 am