Key Notes
- SOL declined 16% from Monday's $182 peak following disappointing US jobs data that added only 73,000 positions versus 110,000 expected.
- Solana generated $87 million network revenue in July, leading all blockchain networks for the tenth consecutive month ahead of Tron's $61 million.
- Technical analysis shows $160 as critical support level with potential rebound to $182 if macro sentiment stabilizes and ETF optimism returns.
Solana SOL $163.6 24h volatility: 2.6% Market cap: $88.01 B Vol. 24h: $6.33 B declined for a fifth straight session on Friday, closing the day 4% lower at $166.23. At the time of writing, SOL is trading at [current price]. The token is now down 16% from its Monday peak of $182, hitting a two-week low as underwhelming US macroeconomic data spooked global markets.
The latest leg of the pullback came after disappointing US labor data reignited fears of fewer Fed rate cuts this year. According to the latest jobs data reported by the US Bureau of Labor Statistics, non-farm payrolls in July added just 73,000 jobs, well below the expected 110,000.
US Non-Farm Payrolls | TradingEconomics, August 1, 2025
More notably, job gains for May and June were revised down by a combined 258,000, signaling deeper labor market weakness than initially reported—an economic signal that could pressure the Fed to maintain a tighter policy stance for longer.
While risk-off sentiment weighed heavily on SOL price, the network’s on-chain fundamentals remain strong.
According to SolanaFloor , a news platform focused on Solana-native projects, the network generated a staggering $87 million in network revenue in July 2025, marking the tenth consecutive month it led all Layer 1 and Layer 2 chains.
By comparison, Tron posted $61 million, Ethereum $55 million, while Bitcoin DeFi transactions generated just $16 million in revenues during the same period. For a proof-of-stake network like Solana, this metric is key: most of these fees are redistributed directly to validators and stakers, underpinning native demand for SOL.
The prolonged dominance in network revenue emphasizes Solana’s reputation as the preferred blockchain for economic transactions. This could further boost Solana’s long-term potential as it comes just as the US SEC approved staking for crypto ETFs last month. The incentive to share in the $87 million revenue stream could see more institutions channel capital towards Solana in the coming weeks, especially if the ongoing altcoin ETFs under review get an approval verdict.
Sol Strategies , a New York firm with over $500M in SOL treasury strategy investments, applauded the ETF ruling in a recent post. It remains to be seen if other prospective investors will pick up the cue to funnel fresh capital into the Solana ecosystem in a bid to earn a share of Solana’s growing network revenue stream.
SOL Price Alert: $160 Support Test Could Trigger Drop to $150
From a technical standpoint, Solana’s recent pullback has brought its price below the 20-day EMA at $179.41, signaling a break in short-term momentum. Friday’s red candle closed in the lower half of the Bollinger Bands, which currently stretch between $157.43 and $201.39, further highlighting downside pressure.
Solana price forecast | SOLUSD 24H | TradingView, August 1, 2025
The MACD indicator confirms this bearish shift, with the MACD line crossing beneath the signal line. However, the shrinking histogram bars suggest that bearish momentum may be losing steam, hinting at a possible pause or reversal.
The $160 level remains the immediate line of defense, aligning closely with the lower Bollinger Band and a psychologically significant round-number level. If this support fails, the next potential floor sits around $150, a zone that marked a critical pivot in mid-July and could invite further selling pressure.
On the upside, a successful hold above $160, particularly if paired with stabilizing macro sentiment and improving equity flows, could set the stage for a rebound toward the resistance area at $182. A sustained break above that zone would open the door for a retest of $190, especially if flows into Solana staking protocols accelerate following renewed optimism around crypto ETFs.
In conclusion, while Solana’s broader network strength and improving regulatory backdrop offer long-term bullish potential, its short-term trajectory hinges on holding the $160 level amid volatile macro and equity conditions.
