• Solana’s price has risen from $140 to $168 despite declining social chatter.
• Technical momentum indicators signal short-term weakness, though key support remains intact.
• August may begin with consolidation, but a breakout toward $180 is still possible.

Solana has shown immense strength, bouncing back from levels of $140 in July to near $168 when August began. Regardless of such immense recovery, Santiment data says that social dominance has gone down to a low of 4.57%. What’s interesting to observe here is that when social volume goes down within a rally, it’s smart money, or veteran investors, accumulating when hype happens to be low.

In the second quarter, social buzz rose right before price corrections came in. Conversely, relatively quiet spells were often accompanied by gradual growth. That inverse metric of price performance versus sentiment is playing out now. That implies Solana’s uptrend has life left, even if broader market audiences aren’t actively chattering about it.

Also Read: Solana (SOL) Loses 25% From the Recent High of $206 as Bearish Pressure Builds

Solana Eyes Support at $162.64 Amid Technical Caution

On charts, Solana is still in a position above crucial short-term support. The $165–$167 area has now become critical. It closely corresponds to the 9-day Double Exponential Moving Average (DEMA) and shorter-term Exponential Moving Averages (EMAs). But momentum gauges are putting out some warning signs.

The MACD has turned bearish. The latest negative cross forewarns of declining upward momentum. The Awesome Oscillator (AO) has also gone red, confirming the cooldown process. The Relative Strength Index (RSI), too, stands neutral at 48.49. No signs of overheating or overselling can be found in the near term, either.

Nonetheless, the price has not dropped below significant support levels. Provided $162.64, supported by a Fibonacci pivot, holds strong, the larger bull trend remains intact.

Outlook for August: A Pause Before a Climb?

In the near-term future, into August, Solana could see a short consolidation phase. The move back down to $162–$165 would allow for indicator resetting. But absent a breakdown from the $162.64 support, it could be a springboard leading forward.

If market sentiment improves, especially due to external catalysts or renewed attention on social platforms, buyers could gain confidence. A breakout above the 200-day EMA at $172.33 would open a path toward the $185–$190 range. This target remains possible later in the month if Solana maintains structural integrity and gains momentum from fresh demand.

Also Read: Solana (SOL) Futures Jump 252% on CME As Price Eyes Breakout Above $195