Solana Faces $170 Test After Rally From $125 Fails to Hold Weekly High

• Solana surged from $125 to $205 in a month but now trades below the weekly high of $187 on lower strength.
• The chart points to a demand zone at $168 to $170 where buyers may find a chance to re-enter if price pulls back.
• If moving averages fail and price drops below $168 then next key draw could appear near the $156 level soon.

Solana (SOL) is currently trading at $187.61 after a powerful rally from $125 to $205 within a one-month period. The recent advance pushed price to tag the weekly high around $187, but the asset is now trading slightly below that level. The current pullback has placed SOL back within a prior consolidation range and just above its exponential moving averages (EMAs).

According to a July 27, 2025, update from Crypto Bully, the bulk of the move may be complete, with immediate upside potential looking limited. The analysis points to a nearby demand zone between $168 and $170 as a key level to monitor. Failure to maintain support at this range could trigger a deeper drawdown if EMAs fail to hold.

Could a temporary correction in Solana open fresh entry zones before the next major catalyst pushes price into a new rally?

Rally Exhaustion Signals Potential Pullback

Solana surged nearly 64% in one month, climbing from $125 to $205 before facing rejection at recent highs. The move took out the previous weekly high, which had acted as a cap for several sessions. Despite the bullish momentum, the price quickly pulled back below the $187 level, suggesting the rally may have reached temporary exhaustion.

The current 4-hour chart from Binance shows price re-entering a prior resistance zone now acting as potential support. Market watchers are now closely monitoring whether the exponential moving averages, plotted along the uptrend, can hold. If these levels break, SOL may seek support closer to $170 or lower.

The analysis identifies the $168–$170 region as a key demand zone. This area previously attracted heavy buying interest and could provide the next opportunity for bullish re-entry. Until a clear bounce forms from this zone, risk remains elevated.

Demand Zone Offers Possible Entry

Traders eyeing long positions are now shifting their focus to the $168–$170 zone. This region aligns with prior accumulation and sits just above key EMAs that may act as dynamic support. If price revisits this level and holds, traders could see it as a short-term buying opportunity.

However, any failure to respect these EMAs or the demand zone could trigger a deeper correction. A break below $168 would expose price to lower levels, possibly as far as $156, where previous structure exists. The demand zone is being watched as the potential next draw if support does not hold.

The absence of strong bullish continuation above $187 means that buyers may step aside temporarily until stronger confirmation appears. This sets the stage for a reactive rather than aggressive trading approach in the coming sessions.

ETF News Could Trigger Fresh Momentum

Looking ahead, traders are watching for broader market catalysts that may inject new energy into SOL’s price action. One such driver mentioned in the post is the potential approval of a Fidelity-backed ETF. If this occurs in the coming week or early next month, the resulting sentiment boost may push SOL upward again.

The possible dip toward the $170 region could coincide with favorable macro news, offering a combination of technical and fundamental support. This would set the stage for the next major move into Q4, particularly if SOL maintains strength around this key level.

For now, Solana’s bullish structure depends on holding above its moving averages and responding positively to the $168–$170 support range. Until then, price action may remain in a consolidative state as traders wait for new directional confirmation.