Solana (SOL) Price Prediction for August 6

The Solana price today is trading around $169.05 following a short-term bounce from key support near $155. Despite climbing over 6% since August began, SOL now faces resistance from a confluence of technical barriers. Price remains below the Supertrend on the 4-hour chart and the 0.382 Fibonacci retracement level from the November–March swing, with $171.40 acting as the next hurdle for bulls.

Solana (SOL) Price Forecast Table: August 6, 2025

What’s Happening With Solana’s Price?

SOL price dynamics (Source: TradingView)

SOL recently rebounded from a confluence of demand zones between $150 and $155, where the 4-hour chart shows a strong lower boundary of the falling parallel channel. Since then, price has been trading inside a rising short-term channel on the 30-minute chart, but it is now approaching the upper limit of the larger descending structure that has capped all upside since July 20.

The Parabolic SAR has flipped below price, indicating the initial stage of a possible trend reversal. However, the Supertrend remains bearish and currently sits at $171.12, just above the current price. A breakout above that level would confirm a momentum shift. Meanwhile, the VWAP on lower timeframes shows SOL trading slightly above the session average, suggesting a neutral to mildly bullish bias intraday.

Why Is The Solana (SOL) Price Going Up Today?

Why Solana price going up today can be linked to structural support bounces and the recovery of short-term market sentiment. After a significant breakdown below $180, Solana price action found liquidity around the $155 region, where multiple wicks have shown buyer interest. The bounce from this zone has pushed SOL back into the mid-range of the descending channel.

SOL Netflow Data (Source: Coinglass)

Despite the recovery, net outflows remain negative. Coinglass data shows over $9.81M in net outflows as of August 5, indicating profit-taking or reallocation pressure. This suggests the bounce is not yet backed by strong spot demand.

SOL price dynamics (Source: TradingView)

The 1D Smart Money chart confirms that SOL is now approaching the previous Change of Character (CHoCH) zone near $171–$175, a key structural level that could dictate the next breakout or rejection.

SOL price dynamics (Source: TradingView)

On the DMI indicator, the +DI (17.82) is attempting to cross above the -DI (17.56), while the ADX remains elevated at 35.75. This reflects a strengthening trend but without full directional confirmation yet.

Fibonacci Levels, Trendlines, and Momentum Indicators

SOL price dynamics (Source: TradingView)

On the weekly chart, Solana price is trading just below the 0.382 Fibonacci retracement level at $171.40, which has rejected price twice in the past three months. This level remains the key trigger for any larger upside continuation. Above it, the next Fib target lies near $195.00 (0.5 level).

SOL price dynamics (Source: TradingView)

The RSI on the 30-minute chart is currently at 58.57, still below overbought conditions, while the MACD remains flat. This implies that momentum is not overextended, and there could still be room for a push higher if buyers reclaim control above $171.

Price is also interacting with the upper boundary of the intraday ascending channel. If this channel holds, SOL may consolidate in a tight range between $167 and $171 before attempting a breakout.

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

In the immediate term, Solana price faces a decision point. If bulls clear the $171.12 Supertrend level with volume confirmation, the next upside targets lie near $175.80 followed by $185.00. These levels align with the prior BOS and liquidity rejection zones visible on the 1-day chart.

On the flip side, failure to breach $171 could trigger a pullback toward $165 and then $161.71 (Parabolic SAR level), which also aligns with the midline of the descending channel. A breakdown below $160 would shift sentiment back to bearish and could invite retests of the $155 and $150 demand zones.

While momentum is improving, broader market inflows do not yet support a sustained rally. Traders should watch volume, netflow, and VWAP for clues on direction. A decisive daily close above $175 would invalidate the current downtrend structure.