What Is a Good Price to Buy Solana? Analyst Points to $187 & $179 Support Zone

• Solana dropped 7.5% in 24 hours, testing support at $187 and $179.
• Ali Martinez suggests buying at $176 or breakout above $207, targeting $300.
• Weekly indicators show consolidation within a long-term symmetrical triangle.

Solana (SOL) faced heavy selling pressure over the last 24 hours, with the token crashing 7.5% and losing its grip above the key $200 resistance level. 

Why is Solana (SOL) price dropping? At the time of writing, SOL is trading near $187, testing its 20-day EMA as immediate support. Should bearish momentum persist, the 50-day EMA at $179 emerges as the next critical level to watch.

What Is a Good Price to Buy the Solana Dip?

Crypto analyst Ali Martinez noted that Solana’s latest rejection is a result of the market’s hesitation around the $200 mark. 

Martinez shared a chart that showed a prolonged ascending triangle structure with strong demand around the $176–$180 zone. 

For traders, Martinez suggests two clear strategies: accumulate on dips into this support area or wait for a decisive breakout above $207 to confirm bullish continuation. His analysis suggests that “this is a good area to buy” Solana, citing this key support, with an ultimate upside target of $300.

Weekly Momentum: Solana Consolidates Before Next Move

The weekly chart shows Solana consolidating within a long-term symmetrical triangle, hinting at a major move ahead. The upper boundary of this pattern is around $230–$240, while the lower boundary has been forming higher lows since early 2023, a bullish sign.

Key indicators support building momentum; the RSI is neutral (54.6), the MACD is showing a slight bullish crossover, and Bollinger Bands are tightening, which often precedes a major price breakout.

The overall technical picture adds to Solana (SOL) price prediction for August 26, suggesting that if SOL holds above the $176–$180 support and breaks past the $240 resistance, a powerful rally toward $300 and a potential retest of all-time highs could be next. 

On the downside, losing $176 may expose SOL to deeper corrections toward $156 and $143.

Are Big Institutions Still Buying Solana?

Yes, major institutional players are aggressively building Solana positions, treating it as a core treasury asset. Nasdaq-listed Sharps Technology recently announced a digital asset treasury strategy, with Solana as its principal holding.

Also, Galaxy Digital, Jump Crypto, and Multicoin Capital are jointly working on a $1 billion raise to acquire a publicly listed company and convert it into a digital asset treasury firm accumulating SOL. Pantera Capital is pursuing an even more ambitious plan, seeking to raise up to $1.25 billion to convert a Nasdaq-listed entity into “Solana Co.”, a publicly traded vehicle with Solana as its core treasury asset.