Solana Price Expected to Drop Below $60 in August

Solana's price has been struggling to break above $80 since July 9th, but despite steady network usage and growing stablecoin liquidity, bears have dominated the market.

The altcoin's bullish trend in 2024 was interrupted by a bearish trend that began in March 2025, when Solana breached its swing low at $110. This break led to a decline in price, with the asset reaching as low as $47.9, a level forecasted by Fibonacci extension.

Recent on-chain metrics have been bearish, with the RSI below neutral 50 and the MACD making a bearish crossover below zero. Price action has also been consistent with this view, with Solana losing ground throughout July after facing rejection from the 61.8% retracement level at $83.8.

The next price targets for Solana in August are expected to be $64.1 and $60.1, according to recent analysis. A heavy Bitcoin sell-off could potentially push Solana prices below $50.