Saad Ullah
Solana is playing it safe right now, stuck in a boring sideways pattern that's got traders on edge. With September being known as crypto's "bloody month," everyone's waiting to see which way SOL will break out of its current box. The big question is whether we'll see a pump above $165 or a dump below $155.
SOL Price Consolidates Around $162
Solana (SOL) is trading at $162.3 with a tiny +0.16% gain today. The price is squeezed between $155.86 support and $165 resistance, creating a tight range that usually means a big move is coming soon.
All the moving averages are bunched up around current levels - EMA6 at $162.10, EMA12 at $162.63, EMA20 at $162.48, and MA60 at $162.02. When everything clusters like this, it usually signals that volatility is about to explode in one direction or another.
Smart Money Stays Flexible on SOL Price
One trader shared their strategy on Twitter, explaining how they're handling this tricky situation. They got in at $155 with a target of $179 but decided to take profits at $169 instead. "No regrets," they said, choosing to be cautious rather than greedy.
Their plan going forward is simple: "If we break the upper channel with conviction, I'll buy strength. If we bleed, I'll buy weakness. Piece by piece." This approach makes sense when SOL price is coiled up this tight - you want to react to what actually happens rather than guess which way it'll go.
Saad Ullah
