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Solana (SOL) about to take the plunge? Resistance tested at $183!
Latest crypto news about Solana (SOL): resistance at $183, trading strategies, analysis and market development.
Solana (SOL) about to take the plunge? Resistance tested at $183!
On July 18, 2025, Solana (SOL) is facing a crucial phase as the cryptocurrency is currently testing the resistance level of $183. This comes in an environment characterized by low liquidity over the weekend, which could potentially lead to a pullback. Loud InvestX Strong sell orders of Bitcoin between $120,000 and $121,500 could play a role and influence the market situation.
The Relative Strength Index (RSI) shows a short-term bearish divergence while the price is in the upper band of the market control loop (MRC). Traders are currently finding a trade setup for Solana: the entry price should be between $182 and $188, with a stop loss at $191 and a take profit of $176. Using leverage of around 20x offers a potential profit of up to 80 percent. Setting a stop loss is crucial in order to manage the risk.
Long-term outlook for Solana
Despite short-term uncertainties, the future outlook for Solana remains optimistic. In the long term, the aim is to reach $280 in the coming weeks. Currently, SOL is about 55 percent below the all-time high of $293, but has made a clear breakout and is above all moving averages, indicating a possible recovery.
SOL’s recent declines are not without history. How BlockNews reports, Solana has experienced sharp declines followed by significant recoveries, with trading volume remaining high. This indicates continued interest from investors, even though the price is currently at $167.99 and has been reduced by selling pressure.
Market movements and support
It is important for SOL to keep an eye on support levels, especially the $160 level, where the price should be held stable to initiate a possible trend reversal. A break below this level could lead to further selling pressure. However, SOL previously had a history of large price jumps, often followed by necessary corrections, giving investors some reason for hope.
The direction of Solana is crucial for the next few days. The structure of the market, along with the high trading volume during recent declines, could indicate important market moves. Solana remains one of the most active and widely used blockchains, launched in 2020 by Anatoly Yakovenko to provide a fast, low-cost alternative to Ethereum. Thanks to the Proof-of-History (PoH) mechanism, fast transactions are possible at low costs, which continues to make Solana attractive for developers and NFT projects.