Solana dropped again? Can the key support at $181 hold?

Current Status in One Sentence: SOL has taken quite a hit in the past two weeks—dropping from $220 to $181, with a weekly decline of over 17%, and the technicals are flashing a bunch of bad signals.

The Numbers Don’t Lie

• 24-hour drop: -6.3%
• Weekly carnage: -17.5% (BTC and ETH are down too, so this is a market sentiment issue)
• Lowest point: Last Friday it plunged to $168 (that day the whole market crashed)

Technicals Are Screaming “Danger”

RSI near 39 → In simple terms, this indicator says “oversold,” but the problem is—there’s no clear buying support.

Moving averages are a mess → The 20-day and 100-day lines are tangled, and the 200-day line is about to give way. This usually signals the downtrend isn’t over yet.

Key Levels to Watch

If the $181 support breaks:

• Second fallback position: $168 (last Friday’s low)
• Further down: around $150

On the flip side, for a comeback, SOL needs to reclaim the 100-day moving average (around $200) to rebuild confidence.

Only Two Things Can Save It

1. Institutional Bottom Fishing → History shows institutional buying often triggers a rebound
2. Solana ETF Approval → If US regulators approve a SOL spot ETF, that’s a huge positive (just like with BTC and ETH ETFs)

Right now, neither of these catalysts has materialized, so the risk remains high.

Disclaimer: For reference only, not investment advice.