Solana Price Pullback Could Deepen as Two Bearish Markers Emerge
Solana price pulled back after hitting $213, slipping 3.6% in 24 hours. With profit-taking rising and momentum showing strain, one strong support near $183 could decide the next move.
Solana price climbed as high as $213 on August 25 but could not hold the breakout. The token has since slipped by 3.6% to trade around $200.
Weekly gains still stand at 10.7% and monthly gains at 7%, showing strength in the broader trend. But the recent rejection near $213 has sparked a pullback, and two bearish markers now point toward the risk of deeper losses.
Profit-Taking Points Toward A Deeper Correction
Profit booking has been one of the clearest signals behind Solana’s recent moves. Every time realized profits have spiked, the price has quickly retreated.
Realized profit tracks the gain booked when coins are moved; higher spikes mean more holders are selling at a profit, while lower readings suggest fewer sellers are cashing out.
Solana Price And Profit Taking:
Glassnode
On July 22, a profit-taking spike at $205 was followed by a 23% drop to $158. But that wasn’t all.
- On August 13, realized profit spiked above $500 million. Price corrected from $201 to $185, a close to 10% drop.
- On August 20, another local profit-taking peak drove the price from $187.95 to $180.35, nearly a 4% dip. On August 24, realized profit jumped again near the $213 high, raising the risk of a repeat move.
If Solana mirrors these past patterns, a drop close to 20% from $213 would place the price near $175. This zone has already acted as a steady base during earlier corrections, making it a level that traders cannot ignore.
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Buyer Momentum Weakens As Sellers Step In
The pullback is reinforced by fading buyer strength. Between August 13 and August 25, the Solana price made a higher high from $204 to $213. Yet, momentum in the form of RSI or Relative Strength Index slipped during the same period, cooling from around 65 to near 58.
Solana Price And Bearish Divergence:
TradingView
This mismatch tells a story: sellers were active while buyers lost some grip. Combined with the profit-taking at $213, it makes the $175 zone even more critical. The last two corrections lined up with profit spikes, and now weakening buyer activity increases the chances of that same level being tested again.
The Relative Strength Index (RSI) tracks the balance between buying and selling pressure. When the price makes new highs but the RSI makes lower highs, it shows that buyers are losing strength while sellers are quietly gaining ground. This setup is called a bearish divergence. The rise in the realized profit metric also confirms this.
Solana Price Levels Show The Risk
At press time, Solana trades around $200 after losing the $202 support, which has turned into resistance. The next cushions are at $196 and $192, but the key levels remain $183 and $175.
Solana Price Analysis:
TradingView
If the Solana price holds $183, the structure can remain intact. But a clean break below could open the path toward $175. And if that breaks, expect the SOL price to go lower.
On the other hand, reclaiming $209 and closing above $213 would shift the narrative, putting the uptrend back in play.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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