Solana Price has been struggling and has completely reversed its recent move up. It reached over $205 just a week ago, but now it has dropped more than 20% to around $165.
The market’s pulling back after that big rise, which could be the origin of this price action. However, Solana has been underperforming in comparison to Ethereum and SUI over the past couple of months.
$SOL 50% pullback – Exactly to the cent – learn to measure the 50% and trade accordingly. From 22 June low to 22 July high – exactly 50% is $164. Crypto is highly manipulated. There are no coincidences.Long here if you trade or buy spot here if you accumulate. pic.twitter.com/04sb5I2x95
— MartyParty (@martypartymusic) August 1, 2025
What Are the Reasons Behind Solana Price Underperformance?
There’s a lot of chatter about why Solana’s slipping, with a bunch of theories floating around. Some people think Solana’s had its moment, and now other chains like BASE are taking over.
Solana has long been a hotspot for memecoins, with much of its volume and revenue driven by platforms like pump.fun, which hit crazy valuations. But now, Solana and co-founder Toly are shifting focus to prioritizing builders and championing the Internet Capital Market to attract serious startups.
We are entering a new paradigm
Every asset, every market, running on a single, global state machine@solana will power internet capital markets
— Infra | Raydium (@0xINFRA) July 31, 2025
While this isn’t bad for Solana’s long-term future, it might’ve had a short-term impact. That said, Solana kept solid on-chain activity in H1 2025, averaging 3–6M daily active addresses, with spikes over 7M in late January and early May.
Technicals Confirm Bearish Trend for Solana
Looking at the Solana chart, it’s showing a bearish trend with the price breaking below the moving averages. The RSI is declining, indicating weakening momentum, and the MACD is also bearish with a downward crossover.
Overall, the chart reflects a bearish shift after a period of upward momentum, with potential further downside if the support level near $163 is broken. With the market plummeting, this might be the likely scenario.
The coin is at over $89B market cap, positioning it as the sixth largest. It’s down over 10% in the last 24 hours, but a 40% spike in volume confirms the correction.
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Key Takeaways
- Solana’s price has dropped over 20% in a week, underperforming compared to Ethereum and SUI..
- Snorter offers high APY staking, low fees, and MEV protection, with $2.7M raised in presale.
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