After a strong surge above $160, the Solana token came under selling pressure. The price failed to break through the resistance zone around $168–169 and entered a correction. SOL is now balancing at a key level — $155. If this level doesn't hold, the asset could accelerate its decline. However, if buyers regain control, a new wave of growth may begin.

Rise to $168 and Sharp Pullback
SOL followed the path of Bitcoin and Ethereum, breaking above $155 and consolidating above $160. The market responded with strong momentum, and the price quickly reached $168.60 — but was met with heavy selling.

This level had formed local resistance earlier in the month, and it came into play again. Profit-taking triggered a pullback: SOL broke the ascending trendline support and dropped below the 100-hour moving average, which reinforced the short-term bearish sentiment.

Price Returns to Support

The asset is currently holding around the $158 zone and rapidly approaching a key level — $155. This is an important mark that coincides with the 76.4% Fibonacci retracement from the recent upward move (from $158 to $168).

If $155 holds, there's a chance for a rebound. The nearest resistance is around $160, followed by $162. The key level for the bulls remains $168. A breakout above this zone could open the path to $178 and further to $185.

Bearish Scenario: What If $155 Doesn’t Hold
If sellers manage to push below $155, the next target will be $150. A close below this level on the hourly (or daily) chart could intensify the pressure, and the price may drop to $145. This level previously acted as support in early July and could once again attract buyer interest.

Technical Picture

• MACD (hourly timeframe) indicates growing bearish momentum.

• RSI has dropped below 50, confirming the correction phase.

• Key support — $155. Below that — $150 and $145.

• Resistance — $160 and $162. A breakout above $168 would be a bullish signal.

What’s Next?
The market is in a wait-and-see mode. Solana is once again at a tipping point between two scenarios. Holding the $155 level could signal the end of the correction and the potential start of a new upward wave.

If this level is broken, the asset risks a deeper decline, possibly dragging other altcoins down as well. The focus is on the buyers’ reaction at $155 — this could be a pivotal turning point.