- Solana tests the $182–$185 support zone, signaling a key decision point for near-term price action.
- Analysts identify $180 as a crucial confluence level, with potential bullish reversal if support holds.
- Ecosystem data shows $10.67B TVL and strong liquidity, though $36M outflows indicate cautious sentiment.
Solana’s price is testing a critical support range between $182 and $185, where traders expect a possible relief bounce or pullback. Market analysts note that holding this level may encourage a short-term recovery, while failure could lead to further declines toward lower support levels. At the time of writing, Solana was trading at $180.
Key Support Zone Holds as Analysts Watch for Bullish Reaction
According to an analysis prepared by BitGuru, Solana’s recent decline from the $253 high has pushed the price into a consolidation phase. The token has been forming lower highs and lower lows, reflecting ongoing selling pressure. The 4-hour chart shows that the $182–$185 area now acts as a short-term decision zone for traders.
BitGuru stated that “a reversal from this range could set up the next bullish leg,” suggesting that demand may rebuild if the support holds. The $180 level is seen as a confluence zone linked to previous bullish order blocks that triggered prior recoveries.
Maintaining a daily close above this area could lead to the formation of an accumulation range, signaling potential strength ahead. Man of Bitcoin observed that the chart is “potentially developing a 1-2 setup,” with Wave 2 nearing completion between $175.59 and $173.06. The analyst noted resistance at $186.78 and $195.99, while a move above $214 could indicate renewed bullish control.
Ecosystem Metrics and Market Outlook
According to data from DeFiLlama, Solana’s total value locked (TVL) stands at $10.67 billion, marking a 5.45% daily decrease. The capitalization of the stablecoin market is still solid, totaling $15.64 billion, which contributes to the liquidity of networks.
Decentralized exchange trading volume reached $5.94 billion, while perpetuals trading accounted for $2.25 billion. Exchange data from Coinglass shows $36.1 million in net outflows on October 17, extending a three-day cumulative withdrawal above $400 million.
Analysts believe that in case inflows are stabilized and the price regains the level of the $199-$205 range, Solana might recover to the $230 range. However, a breakdown below $172 may lead to extended consolidation before a new bullish phase emerges.
