Solana (SOL) Price Prediction for August 7

After dropping from the July peak near $205, Solana price has entered a clear descending triangle formation. The Solana price today sits at $163.30, just above the structure’s rising base trendline and within striking distance of demand support near $160. However, bearish indicators are starting to build, and on-chain outflows are adding downside risk.

What’s Happening With Solana’s Price?

On the 4-hour chart, Solana price action is forming a descending triangle, with lower highs capping every bullish rally and an ascending dotted trendline supporting price just above $160. Multiple rejections near the $170–$172 level align with this pattern, showing clear supply pressure from the descending trendline.

Current price sits just above the lower Bollinger Band at $158.8, while the 20 EMA ($164.86) is acting as immediate dynamic resistance. All major EMAs are now stacked above price, reinforcing a bearish structure. The Bollinger Bands are starting to compress, often a precursor to volatility expansion.

Why Is The Solana Price Going Down Today?

The short-term weakness in Solana price today is being driven by sustained bearish momentum across several indicators. The daily Supertrend has flipped fully bearish since SOL closed below $190, and the trend remains negative with no signs of a bullish reversal signal.

Directional Movement Index (DMI) on the daily timeframe shows the -DI line leading slightly above +DI, with ADX holding above 20, confirming that bearish trend strength remains intact. Without a clear shift in this trend dynamic, buyers may struggle to regain control without a catalyst.

Smart Money Concepts (SMC) on the daily chart highlight a bearish Change of Character (ChoCH) near $200, with the latest BOS (Break of Structure) confirming that liquidity is now favoring downside continuation. Price is struggling to reclaim the $180–$185 order block, and the recent Equal Highs (EQH) near $195 have created liquidity that remains uncollected, adding confluence to a lower high thesis.

On-chain metrics further support the bearish sentiment. According to CoinGlass, August 6 saw a net outflow of $18.62 million from Solana spot markets, signaling that institutional participants or whales may be rotating out of SOL ahead of a potential breakdown.

Price Indicators Flash Bearish Bias Across Timeframes

The 30-minute RSI is hovering around 47.05, signaling neutral-to-weak momentum, while MACD and VWAP dynamics continue to lean bearish. Price is consolidating just beneath VWAP resistance ($163.92), and the current candle structure suggests buyers are failing to reclaim session control.

The lower timeframe VWAP bands are also tilting lower, and with the Bollinger Bands tightening, price may be setting up for a volatility event. If it breaks below $160 with volume confirmation, the structure suggests downside continuation toward the $153–$155 demand zone.

SOL Price Prediction: Short-Term Outlook (24H)

If Solana price holds above the triangle base at $160, a bounce back toward $166 and possibly $169 could play out. However, failure to break the descending resistance and reclaim the 20/50 EMA cluster will limit bullish momentum.

A breakdown below $160 opens a path to the next strong demand zone near $153, followed by the mid-range support around $145. If these levels fail, broader downside targets could emerge toward the $130s, where historical liquidity resides.

On the upside, immediate resistance lies at $166 and $169, where the EMA20 and EMA50 converge. A clean breakout above $170.12 would be needed to flip short-term bias and potentially target $175–$180 again.

Given net outflows, bearish SMC structure, and rejection from trendline resistance, Solana price today faces pressure that could intensify if the triangle support breaks.

Solana Price Forecast Table: August 7, 2025