The post Solana (SOL) Retreats 6% Despite 18% Weekly Surge – Critical Support Test at $180 appeared on BitcoinEthereumNews.com.

Iris Coleman
Aug 18, 2025 10:50

SOL price drops to $181 after hitting $195.89 high, testing key support as technical upgrades drive institutional adoption despite network transaction decline.

Quick Take • SOL currently trading at $181.00 (-6.00% in 24h) • Solana’s RSI holds neutral at 50.73 after pullback from overbought levels • Network upgrades Firedancer and Alpenglow fuel 18% weekly gains amid institutional interest What’s Driving Solana Price Today? The SOL price experienced a significant pullback today, declining 6% from yesterday’s high of $195.89 to current levels around $181. This correction comes after Solana’s impressive 18% surge earlier this week, driven by major technical upgrades including Firedancer and Alpenglow implementations that enhance network scalability. The recent decline appears connected to news that Solana network transactions dropped to 1.1 billion in August, down from July’s peak levels. This transaction volume decrease has created some uncertainty among traders, despite the positive momentum from institutional adoption stories. However, the broader context remains constructive for SOL. The Solana Index significantly outperformed traditional stock markets this week, climbing 6.7% compared to just 2.4% for stock indices. This outperformance highlights growing institutional interest in Solana-based assets, supporting the narrative around the network’s technical improvements. SOL Technical Analysis: Mixed Signals After Sharp Pullback Solana technical analysis reveals a complex picture following today’s 6% decline. The SOL RSI sits at 50.73, indicating neutral momentum after cooling off from potentially overbought conditions during the recent rally. This RSI level suggests the selling pressure may be stabilizing. The MACD remains bullish for Solana, with the main line at 4.5099 above the signal line at 4.0896, generating a positive histogram reading of 0.4203. This indicates underlying bullish momentum persists despite the daily pullback. Solana’s price action relative to moving averages shows strength above…

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Filed under: News - @ August 19, 2025 3:27 am