Solana opened August trading in a tight range just above $165. The coin has hovered near that level after a sharp run-up. Based on reports, big holders rotating profits and deeper DeFi ties are reshaping the outlook for SOL.
A pullback to around $160 has lined up with both the 200 EMA and a key trendline. Analysis shows that the $161–$166 area has become a firm floor.
On its own, SOL has already jumped more than 50% from earlier lows this year. Prices still face pressure, though. The MACD histogram is negative and hasn’t shown a clear turn upward.
That hints that bears have some edge until momentum shifts. Keeping an eye on trading volume around $189 will be key. A strong break and close above that level could open the door to higher targets.
The handset combines Web3 functionality with a familiar smartphone experience, using hardware-level security to keep private keys and seed phrases completely separate from the app layer.
This development makes Solana a more appealing platform for developers, fuels a vibrant ecosystem and expands SOL’s role as a utility token.
Seekers officially start shipping today! Thank you for your support and belief in Solana Mobile since day one.
Looking at these metrics, a move toward $173 by early September seems likely if SOL can hold above $166. Failing that, a drop to $58 could prompt a deeper test of support.
If buyers can lock in gains around $165 and power SOL above $189 on solid volume, the path to $206—and maybe even $256—comes into view.
Until that happens, though, traders may want to wait for clearer signs that momentum has flipped.
Featured image from Nansen Research, chart from TradingView
