Currently, $SOL is trading at $154.32. It successfully tested the $127 support level this week and rose by about 2% in the past day, with a trading volume of $4.781 billion. Now that the price of SOL is hovering around the key support/resistance level of $155 and the market volatility is increasing, it may be a good time to invest in SOL to welcome the next bull market.

From a technical perspective, SOL's simple moving average (SMA) shows a bullish convergence trend, and the market's buying pressure on SOL is increasing. In addition, the MACD indicator also continues to decline in the red histogram, indicating that bullish forces are accumulating and the future outlook is optimistic.

So, will the SOL price rise back to $200 in August this year? If the market can keep SOL above the support level of $155, bulls may regain the upward momentum and target the resistance level of $181.50. If SOL can maintain above this level, it may challenge the upper resistance level of $200 in the coming weeks.

However, if the bears regain dominance, SOL may test the $155 support level again. If the bulls fail to hold this support level, the price of SOL may fall to a lower support level of $127 this month. The next direction of the market will be very critical.