TLDR:
- SOL price defends $181 as buyers react to support near $174 amid bullish chart patterns.
- Falling wedge and double bottom hint at a potential breakout if SOL clears $188 with volume.
- SOL trading volume up 19% in 24 hours, signaling renewed interest from active traders.
- A move above $188 could target $195–$200, while a drop risks retesting $174 support zone.
Solana is sitting at a critical level. Buyers stepped in near $174 and pushed the price back toward $181. Market watchers now see two patterns colliding: a falling wedge and a double bottom. Both hint at a potential breakout if momentum holds.
Traders are on edge, waiting for a clear move toward $188 and beyond.
Falling Wedge Forms as Key SOL Price Support Holds
Crypto Sat reported that Solana’s 4-hour chart shows a falling wedge pattern. The price slid from $206 down to a support range near $174 to $176. Each dip has been met with buying pressure, keeping the wedge intact.
$SOL‘s 4-hour chart shows a Falling Wedge pattern—get ready for a bullish breakout! 🚀
• Falling Wedge, sloping downward with converging trendlines
• Price has respected both upper and lower bounds of the wedge with multiple touches
• SOLANA corrected from a high of $206… pic.twitter.com/jFFF8ldaBD
— Crypto Sat (@cryptosatred) July 31, 2025
Traders now look to $184 as the first test. A strong close above $188 could confirm a breakout. If that happens, a quick push toward $195 or even $200 is possible.
BitGuru noted that a double bottom has formed near $169, a level where buyers fought back earlier. This pattern often signals strength after heavy selling. With price now at $181, bulls need to hold momentum to avoid another drop to the $174 zone.
If resistance at $184 stalls the move, a retest of $174 is still on the table. But if volume rises on a breakout, it could force shorts to cover and fuel a rally toward $190 and above.
$SOL Double Bottom Rebound Can Bulls Take Back $200?
After a strong rally, $SOL topped out near $200 and started pulling back
But buyers stepped in around the $170 demand zone➡️ A clean double bottom formed near $169
➡️ Market bounced and is now trying to push up https://t.co/wUQplHCjVH pic.twitter.com/hs50TEGf7g— BitGuru 🔶 (@bitgu_ru) July 31, 2025
Solana Price Action and Market Activity
CoinGecko data shows Solana trading at $181.54, up 0.63 percent in 24 hours. Volume has jumped 19.10 percent in the same period, signaling fresh market activity.
In the past week, Solana moved between $175.43 and $194.02, with intraday ranges holding steady from $173.22 to $181.49.
If the wedge breaks upward, traders may target $195 to $200 quickly. Failure to clear $188, however, could drag price back to $174 before bulls regroup.
