Will Solana Price Hold $152 or Is $179 Still in Play?

Solana saw its price tumble 4.66% over the last 24 hours, now holding ground at $159.74. This price action followed a $400 million liquidation cascade, which was triggered by large Bitcoin sell-offs. While leveraged ETF approvals were expected to bring institutional inflows, they also raised near-term volatility concerns that unsettled altcoin traders. 

As SOL navigates a decisive resistance zone, technical and on-chain signals indicate conflicting cues about what’s next. Join me as I derive the possible Solana price prediction for the short term.

Active Addresses Paint a Bullish Backdrop

While the price went south, Solana’s daily active addresses have been on a strong uptrend, currently standing at ~16.93 million. As the chart shows, user activity on the Solana network rebounded sharply after July 5 and has consistently climbed ever since.

This growing on-chain numbers indicates rising adoption and usage, which often comes before price recoveries. It highlights that the recent correction may be liquidity-driven rather than fundamentally bearish, offering bulls a reason to stay optimistic.

Solana Price Analysis:

On the 4-hour chart, SOL faces immediate resistance at the $165–$168 range. It is a zone that coincides with the 24-hour high of $168.34 and the upper Bollinger Band. SOL’s price action shows multiple rejections from this level, making it a critical barrier for bulls to reclaim.

It is worth noting that a successful breakout above $168 could trigger the Solana price to rally toward $179.77. However, if SOL fails to sustain support above $158, it could slide further to test the $152.5 zone, which is a key psychological and technical support.

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