Solana Holds at $180: Is This the Start of a Rebound or a Sign of More Losses Ahead?

On Wednesday, Solana (SOL) underwent a notable 9.5% pullback, falling from $205 to $186. This move was triggered by $30 million in liquidated long futures positions, as open interest reached a record $12 billion. This was the steepest daily decline since March 3, when

dropped by more than 20%. The correction followed a 56% rally over the previous month. Technical signals pointed to bearish divergence, with the cumulative volume delta (CVD) for futures contracts decreasing even as prices and funding rates climbed to their highest in three months. These conditions set the stage for a long squeeze, compelling traders with leveraged positions to exit Solana Faces Sharp 9% Correction as $30M Long Liquidations Test Critical $180 Support Level [ 2 ].

The $180 mark has become a pivotal support for Solana’s near-term direction. If this level fails, prices could slide further to the $168–$157 range, which aligns with Fibonacci retracement zones and fair value gaps. On the other hand, maintaining support above $180 could spark renewed bullish sentiment, with some market observers calling the dip a prime opportunity for long-term investors. In 2023, Solana’s “golden cross” between its 50-day and 200-day EMAs led to a 730% surge, indicating that the support could signal ongoing technical strength if it holds Solana Faces Sharp 9% Correction as $30M Long Liquidations Test Critical $180 Support Level [ 2 ].

Solana’s network fundamentals continue to be strong, with block capacity now at 60 million compute units—a 20% increase—and plans to reach 100 million by the end of the year. These enhancements are designed to lower transaction fees and improve developer tools, supporting the blockchain’s long-term expansion. Institutional players remain engaged, as Bit Mining has committed $300 million to establish a

treasury, and DeFi Development Corp is approaching one million tokens in its holdings. These moves reflect sustained confidence in Solana’s ecosystem, even amid recent price swings Solana Faces Sharp 9% Correction as $30M Long Liquidations Test Critical $180 Support Level [ 2 ].

This correction mirrors broader market trends, as

steadies around $120,000, and macroeconomic factors such as anticipated Federal Reserve rate cuts continue to favor risk assets. Still, the sharp decline has sparked debate over whether this is a healthy consolidation after a strong rally or an early sign of deeper bearish momentum. The $180 support is under close watch, as its outcome will help determine if this is a brief pause in the uptrend or the start of a more extended downturn Solana Faces Sharp 9% Correction as $30M Long Liquidations Test Critical $180 Support Level [ 2 ].

CoinLore’s historical data shows Solana’s price path has been turbulent, with the token closing 2025 at $214.14 despite a 9.26% drop in August. Over five years, Solana’s average volatility has been 74%, highlighting its tendency for sharp price changes. While the latest correction interrupted a bullish trend that began in November 2024, the long-term perspective for Solana remains closely linked to its technological progress and institutional backing. Experts note that although the correction is testing important technical levels, ongoing network upgrades and ecosystem development could help cushion further downside Solana (SOL) Historical Prices | CoinLore [ 1 ].