Summary Solana price today trades near $181 after being rejected from the $208 resistance zone. Exchange outflows of $85 million on August 18 underscore investor caution. Key support lies at $172–$176, with downside risks if broken. By Parshwa Turakhiya ​Solana ( SOL-USD ) is navigating a critical juncture in August as technicals, on-chain flows, and derivatives markets converge to signal short-term turbulence. At the time of writing, the Solana price today hovers near $181, consolidating after a sharp rejection from the $208 resistance zone earlier this week. The market remains under pressure as leveraged traders reduce exposure, while significant outflows from exchanges highlight cautious investor behavior. The rejection at $208 signaled a significant shift. On the two-hour chart, Solana price broke out of its rising wedge pattern only to face selling pressure, resulting in lower highs and a retreat toward the $181 region. SOL price dynamics (Source: TradingView) This level coincides with an ascending trendline that has provided structural support since early August. Immediate resistance stands between $187 and $189, where the 20- and 50-period EMAs converge. If bulls fail to reclaim this zone, downside risks increase toward $176 and $172, levels that align with prior demand clusters. Momentum indicators show weakness. The RSI has slipped below the mid-50 zone, underscoring fading bullish conviction, while price action has struggled to generate higher highs since peaking at $208. Unless Solana regains $190 amid robust volume, the short-term bias continues to favor downside risk. On-chain and derivatives data reinforce caution Beyond chart structures, capital flows reveal a shift in sentiment. Exchange data show a net outflow of roughly $85 million on August 18, coinciding with Solana’s slide from $191 to $181. This trend suggests investors are reducing exposure, either locking in profits or repositioning defensively. While earlier inflows supported rallies, sustained outflows without offsetting inflows historically precede consolidation or retracement phases. Derivatives markets underline this cautious stance. Futures open interest has fallen nearly 7 percent to $11.5 billion, reflecting reduced speculative appetite. Trading volume, however, climbed 42 percent, suggesting traders are actively closing positions rather than building new ones. Options activity also accelerated, with open interest rising 6 percent and volume spiking more than 90 percent, signaling growing demand for hedges amid uncertainty. The long/short ratios across major exchanges remain skewed in favor of longs, particularly on Binance (3.47 ratio overall, 4.04 among top traders) and OKX (2.72 ratio). Yet, the decline in overall open interest shows that traders are scaling back leverage even while maintaining directional bets. Liquidations in the past 24 hours totaled $31.8 million, with the majority impacting longs, underscoring how aggressive buyers were caught off guard by the recent pullback. Medium-term outlook hinges on $172–$176 support Despite the near-term softness, Solana retains a constructive medium-term structure. As long as price holds above $170, the broader uptrend from July remains intact. Buyers have consistently stepped in near major support zones, providing the foundation for rebounds. If $176–$172 is defended, a push back toward $190 and possibly the $200 mark could materialize. Conversely, a decisive breakdown below $170 would invalidate this structure and risk a slide toward July’s mid-$150 levels. For now, Solana remains caught between structural support and selling pressure. The $208 rejection shifted momentum sharply, and the $85 million outflow reflects reduced confidence in immediate upside. With derivatives traders trimming leverage and hedging exposure, the market is likely to remain volatile until price either reclaims $190 or breaks decisively below $172. In our earlier outlooks, we highlighted Solana’s struggle to clear the $200–$210 zone , where repeated rejections suggested strong supply. The current retracement confirms that area as a formidable resistance level. Our prior discussions also pointed to $170 as a pivotal support, and that zone is now back in focus as the market gauges whether Solana can sustain its broader uptrend. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post