Solana (SOL) Price Prediction for August 16

Key Points

1. Solana's price rebounded to $197.50 after dropping to $192, supported by strong spot inflows and technical levels.

2. Key resistance areas are identified at $200–$210, with historical sell-side pressure noted around $210–$252.

3. Fibonacci retracement levels indicate mid-support at $171.30, with deeper supports at $150.44 and $142.12.

4. Directional Movement Index (DMI) shows a developing but not yet strong trend, with +DI at 29.20 above -DI at 26.48.

5. A net inflow of $44.14M on August 15 suggests strong buying interest, with short-term stability indicated by Bollinger Bands and EMAs.

6. Potential upside targets if Solana breaks above $199.25 include $210 and $213.26, with further acceleration possible toward $225–$230.

7. A failure to hold $194 could lead to a pullback toward $186.57, aligning with the 50 EMA and lower channel boundary.