Solana Price Prediction: Can Bulls Reclaim $200 or Will Bears Push Towards $180?

Solana is testing key resistance near $200, with participants watching closely to see if momentum shifts higher or a deeper correction unfolds.

Solana price action is struggling to break past major resistance while on-chain activity shows signs of cooling. Market watchers are now looking at whether the recent stalls near $200 reflect a healthy consolidation or the early stages of a deeper correction that could test lower supports. The stakes are high, as this zone at $200 has repeatedly shaped Solana’s short-term momentum.

Solana DEX Volume Showing Weakness

Solana’s decentralized exchange (DEX) activity has fallen sharply, with Crypto Rover noting that daily volumes have dropped to their lowest levels since mid-2024. The chart shows a steep decline in unique trader counts after peaking earlier this year, suggesting that participation in on-chain trading has cooled significantly.

Solana’s DEX activity plunges to multi-month lows, signaling weaker participation and thinner liquidity. Source: Crypto Rover via X

From a market perspective, the drop in DEX volumes raises questions about Solana’s near-term price stability. Lower trading activity often translates into thinner liquidity, which can magnify volatility during sharp moves. For now, market watchers remain cautious as price could react to reduced participation on its DeFi layer.

Solana Price Testing Key Resistance

Analyst v2ethereum points out that Solana is once again pressing against a resistance zone near $206, an area where price has repeatedly stalled in recent sessions. The chart highlights a range-bound structure with the price failing to build sustained momentum beyond this level. On the downside, the analyst marks a potential risk area that stretches towards $182, underscoring the importance of defending the mid-$190s to avoid deeper retracement.

Solana struggles at the $206 resistance, with $190s acting as the key support zone. Source: v2ethereum via X

The key observation from v2ethereum is that the $206 region acts as a pivot, holding below it keeps pressure intact, while a clean move above would shift momentum back to buyers.

Solana Weekly Chart Faces Ichimoku Cloud Test

Analyst Chad highlights that Solana is currently testing the Ichimoku cloud on the weekly chart, where the cloud has thinned out compared to previous months. A thinner cloud often signals reduced resistance, making it easier for price to break through if momentum builds.

Solana tests the weekly Ichimoku cloud, with a breakout or rejection set to define its next major trend. Source: Chad via X

The chart shows Solana pushing against this zone, raising the question of whether buyers can finally clear the overhead supply that has capped recent rallies.

From an indicator standpoint, the positioning of price relative to the cloud is key. If Solana manages to close above the cloud, it would suggest a shift toward a stronger bullish trend. However, rejection here would keep the Solana price prediction towards $180 intact.

Bearish Solana Price Prediction

Solana’s one of the chart structures is beginning to show signs of pressure, with price failing to sustain momentum above the $200 region. The wave count suggests that the recent rally may only have been a corrective move, leaving the door open for another leg down. If the market continues to reject this zone, the technical setup hints at a possible retest of lower levels where past accumulation has taken place.

Solana’s Elliott Wave structure warns of a possible drop towards the $85–$90 demand zone if $210 resistance continues to hold. Source: Altstreet Bets via X

Analyst Altstreet Bets points to the Elliott Wave structure, which outlines a potential path towards the $85 to 90 area should Solana lose its current footing. This zone has historically acted as a major demand base, making it a logical downside target in a bearish scenario. For Solana to avoid this outcome, it would need to reclaim $200 to $210 with conviction; otherwise, the bearish price prediction gains weight.

Final Thoughts: Bullish Scenario or Bearish Outlook?

Solana’s current setup has a lot of mixed signals. On one hand, the weekly chart’s thinning Ichimoku cloud hints at a potential breakout if buyers step up with conviction. Clearing the $206 to $210 resistance would not only shift momentum but also confirm renewed strength, allowing Solana to re-establish a bullish trajectory.

On the other hand, repeated failures to hold above the $200 zone keep the bearish narrative alive. If selling pressure deepens, SOL Solana price could be forced into a larger correction, possibly revisiting the $180s or even the $85 to $90 demand area outlined by Elliott Wave counts. For now, the market sits at a crossroads, and buyers need a decisive reclaim to keep control.